Yeah, patience is something that has to be learnt over time and after many many mistakes.
From a technical point of view, I see a very strong rally followed by support at a high level of that rally.
Attempted selling is weakening. We are in our third attempt of a selloff. Each selloff or thrust downwards has been lessening in its strength.
First was 27 cents, 2nd was 24.5 cents and the third and final attempt (IMO) at present is currently 12 cents in length.
In an uptrend, 3 contracting downward thrusts (countertrend) are usually followed by a strong move back in the direction of the Main Trend.
Our "Main Trend" is up if anyone hasn't noticed.
It seems we may need to be just a little more patient. Perhaps into next week. It is not far off however.
I know charts are just probabilities, but they do weigh more in the direction of the Main Trend.
From my technical analysis, I see around $2.20 as the next stop. Hope I'm right!
IMO. Not Advice. GLTASHs
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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 |
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| Last trade - 16.10pm 18/10/2024 (20 minute delay) ? |
| WR1 (ASX) Chart |