Well explained. Yes, 24 is clearly the break price. Tested multiple times and failed. Through there on volume and away we go. Everyone using TA, however, is seeing the same thing, so if it does 'bust' through with a big move in one day, it can pay to wait for the pullback to the new support. With macro tailwinds though, it may not. Another very positive US trading day in Friday may mean that resistance is broken on Monday.
Of course, still being in consolidation, a break down through 21 is still in play. After all, it is the macro (US) that has driven the volume this week. Having said that, the two month consolidation has been during a very negative market environment, so your main point of 'have we reached the bottom', I agree, is looking 'very likely' imo.
RMD - ASX Charts, page-2
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Last
$31.16 |
Change
0.100(0.32%) |
Mkt cap ! $19.88B | |||
| Open | High | Low | Value | Volume |
| $30.96 | $31.16 | $30.93 | $31.57M | 1.014M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 1958 | $31.15 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $31.19 | 1266 | 1 |
View Market Depth
| Last trade - 16.10pm 30/05/2024 (20 minute delay) ? |
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Last
$31.15 |
Change
0.100 ( 0.28 %) |
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| Open | High | Low | Volume | ||
| $30.94 | $31.16 | $30.94 | 119952 | ||
| Last updated 15.59pm 30/05/2024 ? | |||||
| RMD (ASX) Chart |