Looking at the long term trend we can see the completion of an Elliot wave with an abc correction.
Zoomed in you can see the bottom of the c wave followed by a brief accumulation period and a retest of the wave c making a double bottom.
A bullish divergence on the rsi suggests accumulation and strength.
The high volume day was a rebalance most likely getting ready for the next leg up.
Will need to see a move above $3 to change short term trend then if the ath is broken I have a target of $6/$6.10.
An announcement regarding calix jv or a bmx auction will help bullish momentum we are expecting these to before the end of march..
Gltah cheers
[ATTACH] Looking at the long term trend we can see the...
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Last
$2.97 |
Change
-0.110(3.57%) |
Mkt cap ! $8.938B | |||
| Open | High | Low | Value | Volume |
| $3.10 | $3.11 | $2.93 | $115.5M | 38.55M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 15 | 559299 | $2.97 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.98 | 57535 | 4 |
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| Last trade - 16.10pm 02/07/2024 (20 minute delay) ? |
| PLS (ASX) Chart |