Looking at the price action here and the low on 25th May has been tested and held.
One thing to look for when a stock is nearing a low is when bad news is announced but the share price refuses to go lower indicating that the market has pushed it as low as its going to in the short run. Depending of course on further bad news coming through.
So a take out of the price high of $2.68 is the first baby step then a more important step is to take out the high of $2.73 which was the high just before the $2.50 low.
For confirmation we need higher buyside volume.
This thing without a doubt remains high risk from where I sit. So any buying should probably have stops below $2.50 .
Price Action, page-85
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Last
$1.91 |
Change
0.045(2.41%) |
Mkt cap ! $1.442B | |||
| Open | High | Low | Value | Volume |
| $1.86 | $1.93 | $1.85 | $8.762M | 4.627M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 20278 | $1.91 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.92 | 15251 | 3 |
View Market Depth
| Last trade - 16.10pm 24/07/2024 (20 minute delay) ? |
| RRL (ASX) Chart |