The week in review shows that ST1 performed poorly, with its most recent acquisition failing to stop an enduring correction. Having endured one of its worst weeks in recent times, the stock has lived through August by shedding over 10 per cent of its value.
Looking at the weekly chart, a double bottom of $0.20 was breached, albeit with a small bounce of 1 pip since then:
For the first time since March, daily trading action has consistently traded around the lower Bollinger Band:
The Relative Strength Index (in blue) plunged to 32, which was down from 70 a month earlier. In addition, the 200-day moving average (in yellow) has eased its momentum around $0.175
