23-Jan-2024 : Keeping it Simple with Price Action & Technical Analysis
This is a follow-up post to my previous post on Nov'23 above.
The way the stock has moved since then has only corroborated the analysis and the in-built quality of Resmed.
The movement upward has been slow and gradual, and personally, I like it when a stock regains its strength slowly and steadily.
Let's look at the updated current 2D chart as of EOD 23-Jan-2024;* This week, the stock price has broken the resistance zone at 26. This was first established/tested/failed on 14-Dec-23.
* In the process of breaking this resistance, RMD has created a few patterns that are promising for a sustained up-move.
** It has respected the gradually rising support trend line since Nov'23
** It has also formed a nice "Cup & Handle" formation, with the handle now causing the breakout.
* The increasing GREEN count and height of candles since Nov'23, confirm the increasing buying interest and getting out of the hold of the short-sellers.
Now, it will be important to see, how it behaves once it has crossed this immediate stranglehold. It would be good to now see this resistance getting formed as a new Support zone.
- Forums
- ASX - By Stock
- RMD - ASX Charts
23-Jan-2024 : Keeping it Simple with Price Action & Technical...
-
- There are more pages in this discussion • 15 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add RMD (ASX) to my watchlist
|
|||||
Last
$31.80 |
Change
-0.590(1.82%) |
Mkt cap ! $20.15B |
Open | High | Low | Value | Volume |
$31.86 | $33.42 | $31.51 | $176.0M | 5.493M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 1000 | $31.70 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$31.81 | 7592 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 50 | 31.590 |
1 | 602 | 31.520 |
2 | 181 | 31.510 |
3 | 450 | 31.500 |
1 | 260 | 31.450 |
Price($) | Vol. | No. |
---|---|---|
31.820 | 1000 | 1 |
31.900 | 700 | 1 |
32.000 | 166 | 1 |
32.190 | 947 | 1 |
32.200 | 31 | 1 |
Last trade - 16.10pm 02/08/2024 (20 minute delay) ? |
Featured News
RMD (ASX) Chart |