My view is that elders hasn't dropped to its lowest low of 24.5 and has formed a new base at around 26.5, as long as there are no shock announcements then this is looking good for another run this week (as long as the global markets doesn't crash) the charts are saying there will be resistance at about 31 to 32 cents and drop back and form a new base around 27.5, if the upper resistance isn;t broken through.
Positive points to consider
Wide spread rain, livestock commission will increase due to and increase in stock prices, increase retail sales due to an increase in farmer confidence due to drought breaking rains across the wheat belt.
Increase in investor confidence due to the breaking of the drought, potential for sales of timber corp, and great southern's rural assets.
Once a long term loan agreement is established this will look like a bargain at 26.5 cents.
DYOR
is this called head and shoulder?, page-2
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Last
$8.97 |
Change
0.080(0.90%) |
Mkt cap ! $1.417B | |||
| Open | High | Low | Value | Volume |
| $8.91 | $9.00 | $8.88 | $4.779M | 533.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 3529 | $8.95 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $8.98 | 6459 | 4 |
View Market Depth
| Last trade - 16.10pm 08/11/2024 (20 minute delay) ? |
| ELD (ASX) Chart |