As shown in the graph we are approaching a near 2-year downtrend and starting to break that key resistance point at 10c. It will be interesting over the next couple of months if we stay above or below 10c. With a long term downtrend in place and not enough sales in the pipeline to stave off a CR by end of year I believe this could be the catalyst to see 10c form a strong resistance until proven consistent sales are achieved.
The longer term question is if we move into the 5-10c trading range when the next capital raise occurs then dilution will be massive. Eden needs to stop its high cashburn of $3m/quarter or start generating sales.
The two year downtrend
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Last
0.2¢ |
Change
0.001(33.3%) |
Mkt cap ! $8.216M | |||
| Open | High | Low | Value | Volume |
| 0.2¢ | 0.2¢ | 0.2¢ | $576 | 288.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 64 | 210967439 | 0.1¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.2¢ | 24217145 | 19 |
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| Last trade - 13.42pm 30/08/2024 (20 minute delay) ? |
| EDE (ASX) Chart |