Due to the excellent recent news, it has been holding above the long term downtrend. Then broke out of an hourly wedge by crossing 48c yesterday, which alarmed the Technical buyers, causing volume through 50c and then 52c. Today was a flush out of T + 2 traders who were holding overnight hoping for 60c. Tomorrow we will have to see, could have another day of accumulation, or could go on with it.
I also think that the volume that traded on the announcement was the most since the initial rise, yet the gap closed on modest volume and went into the wedge pattern, higher lows and lower highs. This suggests that a big buyer came in on the recent announcement.
These are my thoughts about it.
Due to the excellent recent news, it has been holding above the...
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Last
38.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $80.59M | |||
| Open | High | Low | Value | Volume |
| 38.5¢ | 38.5¢ | 38.5¢ | $9.091K | 23.61K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 22915 | 38.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 38.5¢ | 9626 | 1 |
View Market Depth
| Last trade - 11.24am 30/07/2024 (20 minute delay) ? |
| OCC (ASX) Chart |