Plausible cup and handle play
Some of the support and resistance lines are set up nicely for a cup and handle (blue pattern) or double bottom play here (sorry, I gave up on drawing a nice looking double bottom).
Targeting accumulation between 47 and 60 over the next few weeks, with a breakout above 60 finishing off the cup. Or possibly a double bottom play between 47 and 60 with a breakout above 60.
Highly speculative play and low odds at playing out.
Using the 1-hour chart as the day chart is pretty uninformative at the moment. I notice that the Accumulation/Distribution indicator might be trending in the opposing direction of the SP the last 2 days (yellow arrow). Could be a weak sign of an incoming trend reversal to the upside.
Plausible cup and handle playSome of the support and resistance...
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Last
3.3¢ |
Change
0.002(6.45%) |
Mkt cap ! $37.48M | |||
| Open | High | Low | Value | Volume |
| 3.1¢ | 3.7¢ | 3.1¢ | $159.2K | 4.883M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 5305 | 3.3¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 3.5¢ | 304130 | 3 |
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| Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
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Last
3.5¢ |
Change
0.002 ( 12.9 %) |
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| Open | High | Low | Volume | ||
| 3.2¢ | 3.8¢ | 3.0¢ | 1746367 | ||
| Last updated 15.58pm 03/05/2024 ? | |||||
| OVT (ASX) Chart |