The trick with charting is observing, not predicting.
It is a likely outcome that there will be a retrace at some point, but there is no reason why it can't ride the upper band higher than we think.
The volume pattern here pushes me toward a more bullish stance, but we are still waiting for a significant higher low before the ultimate trend can be reversed. Watching the weekly chart, as w3 stated may be more significant for this.
May Chart, page-5735
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Last
2.2¢ |
Change
-0.001(4.35%) |
Mkt cap ! $74.14M | |||
| Open | High | Low | Value | Volume |
| 2.4¢ | 2.4¢ | 2.1¢ | $444.7K | 19.98M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 2048367 | 2.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 2.3¢ | 1402823 | 5 |
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| Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
| MAY (ASX) Chart |