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.
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Last
$32.09 |
Change
0.160(0.50%) |
Mkt cap ! $20.37B |
Open | High | Low | Value | Volume |
$31.95 | $32.16 | $31.87 | $20.90M | 653.1K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 237 | $32.03 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$32.09 | 3192 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 8981 | 31.980 |
2 | 1570 | 31.960 |
2 | 1036 | 31.950 |
1 | 310 | 31.930 |
2 | 709 | 31.920 |
Price($) | Vol. | No. |
---|---|---|
32.090 | 3192 | 1 |
32.100 | 50 | 1 |
32.110 | 709 | 2 |
32.140 | 94 | 1 |
32.150 | 42 | 1 |
Last trade - 16.10pm 17/06/2024 (20 minute delay) ? |
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Last
$32.03 |
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Change
0.160 ( 0.11 %) |
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Open | High | Low | Volume | ||
$31.94 | $32.15 | $31.88 | 540165 | ||
Last updated 15.59pm 17/06/2024 ? |
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