STX 9.52% 23.0¢ strike energy limited

Looks like distribution and a stage 4 downtrend to me, gapped...

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    Looks like distribution and a stage 4 downtrend to me, gapped down on huge volume, rebased and now broken that base. Some nearby support but I wouldn't be betting on that holding

    Weekly chart

    upload_2024-8-17_11-16-36.png

    Daily chart, broke down, rallied and retested and sold again confirming the downtrend

    upload_2024-8-17_11-17-35.png

    Definitely not a chart I want to own, imo the probability is it's going lower and maybe a lot lower(I don't know the FA on this, it's oil and gas, I think maybe gas but not even sure on that so my view here is chart only)
 
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