MEL has just formed the most technically perfect bullish continuation pennant I have seen in many years. The chart is text book stuff and the current price is the mid-point of the uptrend to around .65 if the upward breakout starts in the next few days. Look at the following examples and then look at the MEL chart.
http://dailyforexjournal.com/post/pennant-pattern.html
http://www.incrediblecharts.com/technical/flags_and_pennants.php
perfect pennant
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Last
0.6¢ |
Change
0.000(0.00%) |
Mkt cap ! $6.383M | |||
| Open | High | Low | Value | Volume |
| 0.6¢ | 0.6¢ | 0.6¢ | $1.694K | 282.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 5220199 | 0.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.6¢ | 3580275 | 6 |
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| Last trade - 10.04am 10/05/2024 (20 minute delay) ? |
| MEL (ASX) Chart |