I think this pattern is forming with just news and general market conditions!
I personally would not call this some TA thing.
If the markets were just trending slowly upwards and there was no news from CVN and this pattern was forming then I would give more to it
this I think has more to do with people jumping cautiously in on a good thing when it hit its lows (cup), then when it was overbought and the overal market going down, holders cashing in having "made back" their money(handle) the breakout will only happen on a really good announcement...which all seems to be coming together and forming the pattern
nice elliot wave count.chart, page-26
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Last
19.5¢ |
Change
-0.005(2.50%) |
Mkt cap ! $348.8M | |||
| Open | High | Low | Value | Volume |
| 20.0¢ | 20.0¢ | 19.5¢ | $193.7K | 977.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 18 | 1493897 | 19.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 20.0¢ | 510753 | 14 |
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| Last trade - 16.10pm 11/07/2024 (20 minute delay) ? |
| CVN (ASX) Chart |