On the weekly chart SBM looks like it is locked into a range from .45/46 cents to .65cents. In fact you can argue that it might even be in a triangle type formation which it is consolidating in before it makes the next big move.
I'm betting on the fact that it might break higher, but that will only be confirmed if it breaks through .65cents.
If it does the target could easily be around the .85cent region with a potential move as high as $1.00-$1.10.
I would be worried about being long SBM if it breaks below .45cents
These are just my opinions, please DYOR.
On the weekly chart SBM looks like it is locked into a range...
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Last
20.5¢ |
Change
-0.005(2.38%) |
Mkt cap ! $167.6M | |||
| Open | High | Low | Value | Volume |
| 21.5¢ | 21.5¢ | 20.5¢ | $250.4K | 1.202M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 20 | 739664 | 20.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 21.0¢ | 177559 | 4 |
View Market Depth
| Last trade - 16.10pm 29/07/2024 (20 minute delay) ? |
| SBM (ASX) Chart |