27-Nov-2023 : Keeping it Simple with Price Action & Technical Analysis.
The resilience of a stock is determined.. when the overall market tanks almost 1% as it happened today. In this down market, CU6 bucked the trend to close almost 4% up... and in the way.. almost completing the "Cup & Handle" pattern with probability of more upside and a fresh new uptrend in nascent stage.
When we go deep into the charts of CU6, we can see where that resilience comes from;
* CU6 floated in Aug'21 at an issue price of $ 1.26. It then went in a bear phase, that ended in Jul'2022
* Since Jul'22, the stock has been in a slow upward burn... as can be seen with the "GREEN" higher lows.
* The first leg of that upward journey seems to now have closed with the stock almost close to the issue price, and has completed a bullish Cup & Handle with the new upward move having started since start of Nov'2023. If this maintains its up move, the RED resistance zone would then become the new support.
CU6 - ASX Charts
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Last
$4.35 |
Change
0.220(5.33%) |
Mkt cap ! $1.352B | |||
| Open | High | Low | Value | Volume |
| $4.10 | $4.35 | $4.05 | $7.494M | 1.770M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2555 | $4.29 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $4.35 | 5589 | 4 |
View Market Depth
| Last trade - 16.10pm 24/05/2024 (20 minute delay) ? |
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Last
$4.25 |
Change
0.220 ( 3.26 %) |
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| Open | High | Low | Volume | ||
| $4.09 | $4.31 | $4.09 | 45313 | ||
| Last updated 15.58pm 24/05/2024 ? | |||||
| CU6 (ASX) Chart |