New Chart thread post latest CR.
Its pretty normal for a stock to trade down to its CR raise price, but this one is accompanied by a break of support @11c (Timber Line). The question to be asked now, is if this will go further to major support around 6c which corresponds with the Minor Weekly Swing Trend Line.
One thing to keep in mind are the grey arrows, which represent high volume weeks. The pattern to date has been a sell off after the high vol week, so its something to watch for.
It is trading as you would expect technically - respecting weekly trend lines and price resistance and support zones. The last one at the beginning of April hit resistance at the 16.5c old bottom support zone and 52 week MA (again) and then sold off, whilst remaining under the Major Weekly Swing TL and 100 week MA.
Given this stock is going to be susceptible to movements on little volume, its hard to say if it will trade lower than the issue price before the shares are actually issued. That said, I'd expect them to look to support price so they can make their margin.
Pin the tail on the Donkey at the moment.
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Last
18.5¢ |
Change
-0.015(7.50%) |
Mkt cap ! $51.65M | |||
| Open | High | Low | Value | Volume |
| 20.0¢ | 20.0¢ | 18.0¢ | $237.7K | 1.246M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 10 | 353639 | 18.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 18.5¢ | 33225 | 1 |
View Market Depth
| Last trade - 16.20pm 28/07/2025 (20 minute delay) ? |
| BML (ASX) Chart |