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$1.12 viridis mining and minerals limited

$1.81 if the channel holds... that's doesn't really...

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furansu

902 Posts.

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25/05/24

15:03

Post #: 74006787
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Originally posted by insaf: ↑

The shares have been testing low trending and finding support. Just as important the simple moving average has virtually reached the trend support at 1.53. Monday/Tuesday is an important day as a mini squeeze is occurring between the recent retracement trend and the supporting uptrend. The horizontal support at 1.58 holding. All of this is on diminishing volume ( the 2nd lowest volume since 26 April).
if you look at the chart below, the trends can be seen and all the above can be observed. The pink circle on the chart signifies the squeeze from above into the supporting lines. My only concern is the macd crossing slightly negative as Vmm has historically followed up with a few days of the sp breaking down. However, it could continue to consolidate between 1.58 and 1.54 but only for a further day or 2.
so everything is cooked for another move. Mre is due anytime after June 1st. We are due METs updates this week along drilling updates. The question is where will the sp be as the mre drops? Provided the channel holds and we get Mets at the end of the first week of June , we should be sitting around the 1.81 to 1.90 levels.

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$1.81 if the channel holds... that's doesn't really excite me much and expect it to be $2+

VMM Price at posting: $1.58 Sentiment: Buy Disclosure: Held
5 Upvote

0 Great analysis

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(20min delay)
Last $1.12		Change 0.005(0.45%)		Mkt cap ! $67.89M

Open	High	Low	Value	Volume
$1.11	$1.12	$1.06	$391.7K	361.2K

Buyers (Bids)

No.	Vol.	Price($)
2	3000	$1.11

Sellers (Offers)

Price($)	Vol.	No.
$1.12	10998	5

View Market Depth

No.	Vol.	Price($)
1	1500	1.105
2	7695	1.100
3	5150	1.095
2	4413	1.090
1	12178	1.085

Price($)	Vol.	No.
1.120	10998	5
1.130	195	1
1.135	365	1
1.160	21551	1
1.165	2476	1

Last trade - 12.13pm 17/06/2024 (20 minute delay)


Last $1.11			Change 0.005 ( 0.78 %)
Open	High		Low	Volume
$1.11	$1.12		$1.06	55696
Last updated 11.37am 17/06/2024 ?

VMM (ASX) Chart