SPL 3.85% 12.5¢ starpharma holdings limited

As requested.Downward wedge still in play. As you can see we...

  1. 3,359 Posts.
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    As requested.

    Downward wedge still in play. As you can see we have 2 options, it breaks north (Good) it breaks south (Bad) and a third option it trades between $1.60 and $say $1.80 (Not bad as it would end the 3 months down trend)

    Things in our favour,
    Volume is decreasing as SP falls. Thats good, it means sellers are drying up, if it is being pushed lower it will reach a point where those who are doing so decide, it cant go any lower then it's time to take it higher.
    Double bottom, bounced of $1.60 many like this trade and weve seen a little burst north but it needs to get on with it, we need the volume to start edging up and have it climb. We don't want a massive volume spike as that temps profit takers to jump in and the cycle can repeat.

    If it breaks lower and on a volume increase, out of our wedge. That can set up a whole lot of new holders who will reach their limit and eventually sell and then we will need the volume to decrease again. We don't want that.

    What would be great and it's my favourite setup would be for a real tree shake, massive volume down day 4-8 million in volume open at say $1.60 hit $1.40 and close at $1.58, that as scary as it would be at the time sets us up to truly head north.

    For now we just keep watching. that 144k bid, isn't a good omen in my opinion, but I've been wrong before.

    Good luck all. https://hotcopper.com.au/data/attachments/3257/3257509-b97502929c0de8a2d2ac6cde71867b50.jpg

 
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Last
12.5¢
Change
-0.005(3.85%)
Mkt cap ! $51.50M
Open High Low Value Volume
12.5¢ 13.0¢ 12.5¢ $44.65K 352.2K

Buyers (Bids)

No. Vol. Price($)
1 7680 12.5¢
 

Sellers (Offers)

Price($) Vol. No.
13.5¢ 135727 8
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Last trade - 16.10pm 29/03/2024 (20 minute delay) ?
Last
13.0¢
  Change
-0.005 ( 4.00 %)
Open High Low Volume
13.0¢ 13.0¢ 13.0¢ 52582
Last updated 15.59pm 29/03/2024 ?
SPL (ASX) Chart
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