Yes sure, could be that or a simple pennant. Generally I agree around descending pennants but I have in the past found they fail more on binary events, which I don't think Winsome has any that would cause a major surprise other than really the scoping study for Renard coming back unfavourable (which is a while away?).
So my read and what I am talking about @jaimore mentioned is that we are in a bit of a balance here. Here's the volume profile for this pattern on a 30min timeframe which shows the volume traded at different price points. Between those blue lines is where 70% of the volume has been trade here and general convention is; below bottom blue line = good value, look to buy below / above top blue line = less good value, look to sell or lighten load.
So when I see the reactive buying at these lows (volumes generally look better around the $1.22 - $1.25 mark) - it seems like someone or somebodies feel like this is good value down here. Hence why to me it looks like a rock solid support line for now.
I actually think they will run the lows soon and then bounce it from here, would watch around $1.18 or so for some heavy soaking before ripping it. But that's just my humble opinion...
- Forums
- ASX - By Stock
- WR1
- WR1 General Discussion
WR1 General Discussion, page-29398
-
-
- There are more pages in this discussion • 3,584 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add WR1 (ASX) to my watchlist
(20min delay)
|
|||||
Last
53.5¢ |
Change
0.025(4.90%) |
Mkt cap ! $110.3M |
Open | High | Low | Value | Volume |
53.5¢ | 54.0¢ | 52.5¢ | $181.4K | 340.0K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 2973 | 53.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
54.0¢ | 500 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 2973 | 0.535 |
1 | 2930 | 0.530 |
3 | 66752 | 0.525 |
3 | 49321 | 0.520 |
3 | 10900 | 0.515 |
Price($) | Vol. | No. |
---|---|---|
0.540 | 5500 | 2 |
0.545 | 10286 | 3 |
0.550 | 4652 | 3 |
0.555 | 2000 | 1 |
0.560 | 56000 | 2 |
Last trade - 10.10am 27/09/2024 (20 minute delay) ? |
Featured News
WR1 (ASX) Chart |