MAY 3.64% 5.3¢ melbana energy limited

@Guata The way I read it at present is push higher to top of the...

  1. 43,787 Posts.
    lightbulb Created with Sketch. 991
    @Guata The way I read it at present is push higher to top of the supply level at 0.068 followed by a three push pullback to 0.066
    to test the bottom of the supply level for support then a bounce higher above the supply level with a pullback to 0.068 to test the top of the supply level for support then onward to test the highs. The upper black line is the weekly high. The shuffle across we saw this afternoon is in lieu of a pullback but has the same effect as a pullback and refreshes the market to allow the push higher.
    Supply levels half way up the supply and demand curve tend to be a speed bump that price pushes through after a bit of sideways shuffle the same as price did on the way lower. The real supply is the next level higher at around 0.0730 to 0.0739.
    I would be looking at a path higher that looks something like this.
    https://hotcopper.com.au/data/attachments/5720/5720160-076f288d0915f0b63e0c2e662dbec7fe.jpg

 
watchlist Created with Sketch. Add MAY (ASX) to my watchlist
(20min delay)
Last
5.3¢
Change
-0.002(3.64%)
Mkt cap ! $178.6M
Open High Low Value Volume
5.4¢ 5.4¢ 5.2¢ $215.6K 4.068M

Buyers (Bids)

No. Vol. Price($)
10 1990394 5.2¢
 

Sellers (Offers)

Price($) Vol. No.
5.3¢ 15000 1
View Market Depth
Last trade - 16.10pm 10/05/2024 (20 minute delay) ?
Last
5.2¢
  Change
-0.002 ( 1.89 %)
Open High Low Volume
5.4¢ 5.4¢ 5.2¢ 1210770
Last updated 15.38pm 10/05/2024 ?
MAY (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.