29-Nov-2023 : Case of the Rising Triangle
Keeping it Simple with Price Action & Technical Analysis.
Since my last post on 3-Nov where I gave my analysis for the probability of bad days coming to an end, let's see what I see from the DAILY charts since then.
* The rising triangle is clearly seen, with the volumes today topping the level of the last few weeks.
* On the down days, we see decreasing volumes, indicating there are fewer sellers for the lower prices quoted, hence pushing the price steadily upwards.
* The key point is now the immediate resistance level of 24, which seems quite probable now to be broken by the demand from buyers.
Latest short data from Marksetscan shows RMD at rank 348 of shortest stocks, with just 0.31% of the shorted stock and just 0.9 days to cover.
So yes, looks like the buyers are back in the camp, looking at this as a valuable buy at this level.
- Forums
- ASX - By Stock
- RMD - ASX Charts
29-Nov-2023 : Case of the Rising TriangleKeeping it Simple with...
- There are more pages in this discussion • 19 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
(20min delay)
|
|||||
Last
$32.59 |
Change
0.250(0.77%) |
Mkt cap ! $20.79B |
Open | High | Low | Value | Volume |
$32.38 | $32.60 | $32.36 | $32.08M | 988.0K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 2057 | $32.50 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$32.59 | 17226 | 4 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 616 | 32.450 |
2 | 697 | 32.420 |
3 | 8419 | 32.400 |
1 | 68 | 32.350 |
1 | 16 | 32.340 |
Price($) | Vol. | No. |
---|---|---|
32.590 | 17226 | 4 |
32.600 | 721 | 2 |
32.610 | 8978 | 2 |
32.620 | 92 | 1 |
32.630 | 8817 | 1 |
Last trade - 16.10pm 13/05/2024 (20 minute delay) ? |
|
|||||
Last
$32.54 |
  |
Change
0.250 ( 0.30 %) |
|||
Open | High | Low | Volume | ||
$32.37 | $32.60 | $32.37 | 204873 | ||
Last updated 15.59pm 13/05/2024 ? |
Featured News
RMD (ASX) Chart |
The Watchlist
MGU
MAGNUM MINING AND EXPLORATION LIMITED
Neil Goodman, MD
Neil Goodman
MD
SPONSORED BY The Market Online