Price should now go down to the double top target of .045c.
The gap down 10.2 /9.3 was on high vol panic selling as it retraced to the bottom of the double top 10.5c, overshot, and then gapped down below and away towards this target of .045c- this is classic TA..
Extremely unlikely the the price will rise above these levels without new fundamentals.
There is nothing to change the downward price action of the double top target of .045c.
Then the breakaway gap .048 /.05 will be filled.
http://www.sharemarketschool.com/theory-of-price-gaps/
"A “breakaway” gap ends a consolidation pattern and happens as prices break out. Often, they would be accompanied by huge volumes. Break-out Gaps are generally not filled for a long time, i.e. in the case of an uptrend, the price does not fall back to wipe off the gains. They may be filled as and when the prices retrace after a substantial up move"
I have to go with the highest probability outcome of my reading of the charts here and the Classic TA of
1. The double top target
2. The retrace back upwards to the low of the double top.
3. The overshoot upwards and downward reversal.
4. The gap down on heavy volume and panic selling.
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Last
4.1¢ |
Change
0.000(0.00%) |
Mkt cap ! $19.48M |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 12780 | 4.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
4.3¢ | 1630000 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 12780 | 0.040 |
2 | 63888 | 0.039 |
4 | 245000 | 0.038 |
2 | 1275000 | 0.037 |
1 | 125000 | 0.036 |
Price($) | Vol. | No. |
---|---|---|
0.043 | 1630000 | 2 |
0.046 | 46559 | 2 |
0.047 | 72500 | 1 |
0.050 | 500 | 1 |
0.055 | 18199 | 1 |
Last trade - 16.12pm 14/08/2024 (20 minute delay) ? |
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