CBE 1.45% 6.8¢ cobre limited

Morning and happy week to all!!Updated chart. I still believe...

  1. 2,032 Posts.
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    Morning and happy week to all!!

    Updated chart. I still believe the stock is going through a fundamental shift, and any price appreciation will be dependent on both timing and quality of future announcements.

    If we see weakness at the ~$0.40/$0.39 area, I believe we can see a test of the mid-$0.30's. I am targetting the confluence of multiple fib retracements, and anchored VWAP. Take your pick whether we are at a distribution, re-accumulation, or mark-up phase. The price action has been strong towards the upside, but on the ST, it is searching for direction. We must consider a period of consolidation, as the register changes hands. Potentially Wave 4 set-up atm on your smaller timeframes (<4hr), and gearing up in the Wave 2 set-up on your longer timeframes (>Weekly)

    FYI. my opinion and analysis doesn't matter, these are my observations.

    DAILY
    https://hotcopper.com.au/data/attachments/4650/4650430-1d2753e906ee3f6e65ca1e44ace27cbb.jpg


    2hourly
    https://hotcopper.com.au/data/attachments/4650/4650427-2608151abdb91e039bc1f5aa3a94390e.jpg


 
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6.8¢
Change
-0.001(1.45%)
Mkt cap ! $25.40M
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6.8¢ 6.8¢ 6.8¢ $0 1

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Last trade - 11.50am 18/09/2024 (20 minute delay) ?
CBE (ASX) Chart
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