I think he has a biased view.
You cannot meaningfully call his bottom trendline correct in this circumstance.
He should have joined the low of 17th Aug to the low of 7th Dec as that was clearly the swing low with the doji.
Price failed to bounce off the 7th Dec line (and the 200EMA) last week on lower volume than the red candle and has begun breaking down with a lower swing low on increasing volume. Volume is also increasing today on the red candle, which all point towards a technical breakdown and this stock will likely see further lows this week.
If it falls below the Aug 17th low of 2.86, run for the hills (or go short).
I think he has a biased view. You cannot meaningfully call his...
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Last
$1.94 |
Change
0.055(2.92%) |
Mkt cap ! $330.4M | |||
| Open | High | Low | Value | Volume |
| $1.89 | $1.96 | $1.85 | $333.0K | 174.5K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 3105 | $1.94 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.95 | 7574 | 1 |
View Market Depth
| Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
| RAC (ASX) Chart |