Im at a loss why anyone would invest their hard earned cash in these speculative mining stocks, when they have witnessed what has happened to former market darlings like BNPL and Crypto Currency. In bear markets these stocks based on speculation and without genuine earnings.
The chart is a screaming sell with all technical indicators predicting more downside and the vast majority of speculative stocks fuelled by Covid free money will return to their Covid lows.
Chart indicates break of a double top formation with increased volume on the failed retest and initial target of 88 cents before ultimately returning to Covid lows.
The stock market is a voting machine and many of the investors in Crypto are attracted to get rich quick speculative miners and those investors are becoming forced sellers as their portfolios are liquidated.
New TA/Charting, page-8447
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Last
99.3¢ |
Change
-0.013(1.24%) |
Mkt cap ! $2.443B | |||
| Open | High | Low | Value | Volume |
| 99.0¢ | $1.02 | 98.0¢ | $3.683M | 3.685M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 31323 | 99.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 99.5¢ | 98138 | 16 |
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| Last trade - 10.57am 22/07/2024 (20 minute delay) ? |
| LTR (ASX) Chart |