Not so fast HRC.
With all due respect sir, let's first just see how fast it will retest at least the $5 mark before rebounding.
If I am correct there is still another ~10% of downside from here. Let me explain.
The price trend within the BB's compared to the 50 SMA and 65 EMA are indicating a significant probability of repeating the late May 2019 pattern.
This is a common/predictable BB configuration.
The 50/65's have just broken down through the bottom BB, which
may produce a short term bump (early next week), followed shortly after by the 65's re-entry through the bottom BB. That's where there's a strong likelihood of the SP breaking down to the ~$4.80 range (possibly an intraday dash to $4.60). So, for me that looks like late next week or early w/b 22 July, depending on how rapidly it resolves. There's also a coincident support band in the $4.40/80 range, so I don't think it will run down too far (just enough to cause mild alarm and selling by the less intrepid).
So the sooner the SP cycles down to touch on the 50/65 MA's, as a minimum, (very often it will over-shoot on the downside) the SP will then be re-energised and can breakout/up to new highs.
Normally there won't be a major breakout/up in the SP while the 50/65 MAs are below the bottom BB ie without assistance from an unexpected positive NR.
Those 2 minuscule bodied candles for yesterday & today indicate continuation in the current trend ie downwards.
While the Slow Stochastic looks like it's bottoming the MACD has not evolved enough at the stage (not shown), it still needs some time to catch up.
For those interested, here's the site/chart I've been referring to.
https://www.barchart.com/stocks/quotes/NAN.AX/technical-chart?plot=HLWCDL&volume=total&data=DO&density=M&pricesOn=0&asPctChange=0&logscale=0&indicators=BBANDS(20,2);TREND;CCI(20,100);SRSI(14,20);RSI(14,100);STOSL(14,3);SMACD(12,26,9);MACD(12,26,9);TREND;ADX(14);WILLR(14,40);ERI(13);SMA(50);SMA(100);EXPMA(65);AROON(25);CHKVOL(10,10);ACCUM;PVI(255);NVI(255);MOMENT(20);PERF;MFI(14,100)&sym=NAN.AX&grid=1&height=500&studyheight=200
(20min delay)