SPL eight-month daily chart
My technical charts are the reason why I sometimes trade SPL (not always successfully I must point out). However, I think that it is extremely odd that the price movements of SPL, which depend so much on fundamentals and announcements, often seem to conform with classic technical charting. This seems to defy logical explanation. Or maybe it is me that is odd, thinking that profits can be made out of trading SPL.
Technically, the lower line of the tramlines seems to have changed from a support line into a resistance line. Technically, this is a most inauspicious sign. I assume that negative sentiment must be so strong that it is feeding on itself and producing more selling. However, the SP has now fallen so low, and the support/resistance line still continues to be so well-defined that, technically, any break upwards now might quickly double the SP.
When will the next bounce happen? The technical chart can provide no clues.
SPL eight-month daily chartMy technical charts are the reason...
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 (20min delay)
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Last
11.5¢ |
Change
-0.005(4.17%) |
Mkt cap ! $47.38M | |||
| Open | High | Low | Value | Volume |
| 11.5¢ | 11.8¢ | 11.5¢ | $13.46K | 116.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 12 | 374820 | 11.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 12.0¢ | 13759 | 3 |
View Market Depth
| Last trade - 16.10pm 16/05/2024 (20 minute delay) ? |
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Last
11.5¢ |
Change
-0.005 ( 4.17 %) |
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| Open | High | Low | Volume | ||
| 11.5¢ | 12.0¢ | 11.5¢ | 399474 | ||
| Last updated 14.56pm 16/05/2024 ? | |||||
| SPL (ASX) Chart |