SVL is forming a very bullish ascending triangle which would appear to be co-inciding with a testing of its upside at around 17cents in the coming days.
It would appear that the buying interest observed in the past week is genuine and not finished yet. Given this and the fact that the Company is undergoing a re-rating it is conceivable that this 17cent level may well be broken.
If it does get broken then minor resistance at 19 cents looks like the only thing in the way between 17 and the Company's previous closing high of 25cents.
Shaping up for a very interesting couple of weeks.
If silver does breakout, then the whole equation may change again.
IMO
DYOR
technicals pointing to test of bigger breakout
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Last
14.5¢ |
Change
-0.005(3.33%) |
Mkt cap ! $218.6M | |||
| Open | High | Low | Value | Volume |
| 15.0¢ | 15.0¢ | 14.0¢ | $868.5K | 5.943M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 1746409 | 14.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 15.0¢ | 862852 | 11 |
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| Last trade - 16.10pm 25/07/2024 (20 minute delay) ? |
| SVL (ASX) Chart |