Just my take on the chart:
- Bounced off strong support at $0.70.
- Broke out of descending channel from July 15th.
- Strong orderbook ratio towards the buyer side.
- Short-term resistance between $0.87-$0.90 range. If broken, we should retest previous monthly high of $1.25. After, there's a large gap up to previous support level at $2 (Broke-down on 6/3/20 & held that support level twice during 2019 bull-run on September & October).
- Upcoming earnings on 1/9. All states except Victoria are running to an almost normal capacity. Victorian numbers are falling & numbers are looking very good on the rolling 5 & 7 day average, the question is are investors feeling hopeful with OML?
TL;DR - $1.25 short term if we break $0.90 resistance. $2.00 gap up from there. Beware of earnings turbulence.
Just my take on the chart:Bounced off strong support at...
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Last
$1.34 |
Change
-0.035(2.55%) |
Mkt cap ! $723.3M | |||
| Open | High | Low | Value | Volume |
| $1.36 | $1.37 | $1.34 | $285.2K | 210.7K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 11 | 8324 | $1.34 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.35 | 15892 | 35 |
View Market Depth
| Last trade - 10.58am 16/07/2024 (20 minute delay) ? |
| OML (ASX) Chart |