That is a perfectly Parallel rising channel. A Wedge Continuation (it is typically a Reversal Pattern),
must have clearly converging boundary lines. So in short, the answer is no.
You would not want to see that channel broken to the downside and this level might halt prices
today (also minor resistance) but for now, the bounce is intact.
For full disclosure:
I have not yet taken an entry as I have taken too many trades today. Close was strong yesterday and
would not have been a bad entry at the end of the day. If it closes well today I will look for an entry
on Monday (protected by a defined stop loss of course).
NVX Chart, page-2804
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Last
68.5¢ |
Change
-0.045(6.16%) |
Mkt cap ! $337.5M | |||
| Open | High | Low | Value | Volume |
| 70.5¢ | 70.5¢ | 68.3¢ | $729.6K | 1.051M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 59265 | 68.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 69.5¢ | 10000 | 1 |
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| Last trade - 16.10pm 02/08/2024 (20 minute delay) ? |
| NVX (ASX) Chart |