JK5,
$50 is technically possible. Whether it gets there is another question. But remember the market is always forward looking. It could run up to there on no apparent news at all.
The first channel top looks to be at $37.50/$38 I'd say (ie. halfway from $25 to $50) - though also depends when it gets there - the longer it takes the lower the channel will be. Its possible that it could also only get halfway across the channel initially - so about $31?.
$38 may be the bounce high but - whether on news - eg. oil prices rise? or no news - if it gets past $40 it should then run to the top channel at $50. The main thing is to be aware of where the channels are.
why is it getting hammered today?, page-25
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Last
$28.74 |
Change
-0.520(1.78%) |
Mkt cap ! $54.57B | |||
| Open | High | Low | Value | Volume |
| $29.18 | $29.24 | $28.69 | $96.22M | 3.337M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 1473 | $28.73 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $28.74 | 19456 | 4 |
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| Last trade - 16.10pm 08/07/2024 (20 minute delay) ? |
| WDS (ASX) Chart |