VUL 4.28% $4.25 vulcan energy resources limited

I cannot find a technical analysis thread so i am starting one....

  1. 10,568 Posts.
    lightbulb Created with Sketch. 24
    I cannot find a technical analysis thread so i am starting one.
    VUL took a hammering today (for the first time in ages).
    Its normal for a stock to test support levels and its normal for some folks to take their nice profit.
    What I now look for is fresh DEMAND coming in that might indicate a continuation.

    upload_2024-5-27_14-16-42.png
    As can be seen on the RHS the selling volume is low BUT there is no fresh DEMAND yet.
    Going back a few days from the extreme low volume sell off today, I can see fairly high volumes on those DEMAND days.
    CONCLUSION: Not too many selling at the moment but then again no Fresh Demand coming in.
    Prediction: At test of the big red candle at $4.75 might happen?
    Either way from a Fundamental perspective I aint selling for the time being but cannot afford to over-expsoe myself to more buying. Hmm perhaps others have the same situation?
 
watchlist Created with Sketch. Add VUL (ASX) to my watchlist
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.