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...
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Yes sure, could be that or a simple pennant. Generally I agree...
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Last
76.5¢ |
Change
0.005(0.66%) |
Mkt cap ! $164.5M |
Open | High | Low | Value | Volume |
76.5¢ | 78.0¢ | 74.5¢ | $493.9K | 651.4K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 43997 | 75.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
77.0¢ | 10476 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 43997 | 0.750 |
1 | 5000 | 0.745 |
1 | 15000 | 0.740 |
1 | 1300 | 0.735 |
2 | 10024 | 0.730 |
Price($) | Vol. | No. |
---|---|---|
0.770 | 1000 | 1 |
0.775 | 7376 | 2 |
0.780 | 2160 | 1 |
0.790 | 60000 | 1 |
0.795 | 29946 | 2 |
Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
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