CVN has been forming an ascending triangle for the last 3 months with a resistance level of $0.087.
A breakout above $0.087 makes the chart look lovely using technical analysis.
CVN has formed a big base, it will take a bit of good news and we will be looking at clearing the 10c resistance very quickly.
For those that look at fundamentals, they have $65M USD in the bank (~ $88M AUD), we all know that the AUD cash value increases as the AUD falls against the USD.
It's reported that they claim to have future receivables of $31M USD. With the current market value of $88M, the share price clearly doesn't appear to their drilling efforts.
This is just an opinion, comments supporting or not welcome,if you disagree, I'd like a reason, i'm always learning.
Trading Halt?, page-38
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Last
16.0¢ |
Change
-0.010(5.88%) |
Mkt cap ! $286.2M | |||
| Open | High | Low | Value | Volume |
| 17.0¢ | 17.0¢ | 16.0¢ | $90.30K | 546.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 9 | 303067 | 16.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 17.0¢ | 620669 | 10 |
View Market Depth
| Last trade - 16.10pm 11/10/2024 (20 minute delay) ? |
| CVN (ASX) Chart |