Hi Pete,
I don't think it's ranging in that channel/wedge any longer. WAF broke through its downward trending resistance on about May 23rd. This followed the positive 16th May announcement I suppose. Since then an even stronger find and announcement has been made. If you observe the current market depth you'll see that sellers expect about 35c (probably burned by the spike on the 7th June), and a wall of buying support beginning 31c. This may change of course. Gold price is still trending up, and so is the gold index. It would take some aggressive selling, against the news and the indicies, to return WAF to sub 28c. My chart looks like it will bounce off 31c next week. To take a step further in soothsaying, I would think that an 'ascending triangle' pattern is somewhat likely to appear, as resistance at 35c pushes against a rising minimum buy price (it has risen steadily since May 29).
IMO, in the short term.
Oppies ?, page-9
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Last
$1.46 |
Change
-0.060(3.96%) |
Mkt cap ! $1.866B | |||
| Open | High | Low | Value | Volume |
| $1.52 | $1.52 | $1.45 | $3.995M | 2.715M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 54405 | $1.46 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.47 | 26146 | 2 |
View Market Depth
| Last trade - 16.10pm 02/12/2024 (20 minute delay) ? |
| WAF (ASX) Chart |
