Looks like we may be seeing a bear trap play out under the falling wedge pattern. Ideally we would close out Wednesday, and the monthly candle, at ~18.5c for a long legged doji, this would leave a long wick under the falling wedge. If that doesn't happen then it could spend a few weeks under the wedge in a tight range.
If we do get a doji on the monthly then that would definitely be an end to the bear sentiment IMO, and could easily see gains of 100% or more over the following weeks and months.
Weekly Chart;
We have a falling wedge in a downtrend:
Looks like we may be seeing a bear trap play out under the...
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Last
20.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $55.99M | |||
| Open | High | Low | Value | Volume |
| 21.5¢ | 21.5¢ | 20.5¢ | $59.65K | 284.5K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 77361 | 20.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 22.5¢ | 49996 | 1 |
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| Last trade - 16.10pm 08/11/2024 (20 minute delay) ? |
| NVA (ASX) Chart |