It was looking promising for a while there. I don't know what happened with the fundamentals, but the chart seems to be following the characteristics of the descending triangle formation mentioned a few weeks back.
First a break of $3.00 support, a move down to $2.83, then a bounce back up to back-test the $3.00 (went a little further up than I imagined to $3.09, then failure to hold above and back down. The descending triangle looks to be playing out, slowly. This should now do a gradual decline and at some stage get back to near $2.60 for a double bottom.
The rise back up and beyond $3.00 recently was a fake. The hint was 2 goes at $3.09 but not $3.10 (as shown).
The only thing that will negate descending triangle would be a rapid move back above $3.00 and beyond $3.09.
If and once $2.60 area is revisited and $2.60 is not broken, this should then be ok to do a proper recovery back up to $4.00 and $5.00 by end of 2020. If $2.60 holds on this visit and there is a strong bounce there on good volume, I will sell the house and put it all on TLS and sit back and watch this gradually climb to $4.00 and $5.00.
This management still has to go. Sooner the better.
My view if anyone wanted to know.
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It was looking promising for a while there. I don't know what...
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Last
$3.83 |
Change
-0.020(0.52%) |
Mkt cap ! $44.25B |
Open | High | Low | Value | Volume |
$3.85 | $3.88 | $3.81 | $96.28M | 25.08M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 1630 | $3.83 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$3.84 | 141391 | 4 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 1630 | 3.830 |
6 | 70901 | 3.820 |
17 | 182537 | 3.810 |
38 | 321874 | 3.800 |
24 | 645796 | 3.790 |
Price($) | Vol. | No. |
---|---|---|
3.840 | 141391 | 4 |
3.850 | 61194 | 9 |
3.860 | 110461 | 6 |
3.870 | 198408 | 9 |
3.880 | 342245 | 27 |
Last trade - 16.10pm 08/08/2024 (20 minute delay) ? |
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