Yeah there are a few things lining up as long as we continue the rally next week, all will be good. It has been 5 weeks in the consolidation / sideways move.
We had a "false break" below the $1.22 level on Wednesday to $1.21 effectively taking out any stop losses sitting there.
From my understanding, " All big fast moves follow false breaks" (Bear trap).
During this consolidation period, after the initial selloff from the $1.49 high, we had 9 trading days up and then 12 trading days back down to the same level. Effectively the Market was finding it harder to sell off than to rally. Therefore during this consolidation period, buyers were in control more than the sellers => Price is not going down.
Also there was a massive space left between the previous rally high at 99 cents on the 18th March and our recent low of $1.21 on Wednesday 15th May.
This large space signals significant strength in this current move.
A break of $1.45 on decent volume tells me the up move is continuing. Let's hope we get there next week.
IMO, Next resistance is $2.24 then our ATH at $2.52.
We could hopefully see this sooner rather than later.
Not Advice. GLTASH. Go you good thing!
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Last
50.5¢ |
Change
-0.020(3.81%) |
Mkt cap ! $111.8M |
Open | High | Low | Value | Volume |
51.5¢ | 52.0¢ | 49.0¢ | $511.5K | 1.015M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 15000 | 50.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
50.5¢ | 16174 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 15000 | 0.500 |
1 | 7908 | 0.495 |
8 | 34883 | 0.490 |
7 | 67322 | 0.485 |
7 | 51579 | 0.480 |
Price($) | Vol. | No. |
---|---|---|
0.505 | 16174 | 1 |
0.520 | 59288 | 4 |
0.525 | 45775 | 3 |
0.540 | 5000 | 1 |
0.555 | 10000 | 1 |
Last trade - 16.10pm 18/10/2024 (20 minute delay) ? |
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WR1 (ASX) Chart |