CUE 4.00% 12.0¢ cue energy resources limited

B2 Postscript-a chartists view

  1. 1,317 Posts.
    Postscript for B2. I am not a chartist, too lazy or too incompetent, one or the other. But here is some comment from a leading chartist in another website that might be of interest. It was dated back in May.

    "Cue Energy has had a top price of just 30.5 cents. However this is a grand achievement whenyou consider it reached this all time high after tripling in price in six months. Once a stock trades a long way in a very short period of time it has the potential to do it again.

    When CUE reversed it went beyond previous lows. The level of 3.6 cents was reached in October 1988. The price then started to steadily move higher. When it hit 10 cents in late January 1999, not only was it a round number resistance but also the Fibonacci 23.6% retracement from all time highs to all time lows.

    Each new all time low in a downtrrend increases the chance of a reversal. A new low at 3 cents was reached two years later in October 2000. This was followed by a rally to 4.4 cents and then another wave higher to 10.5 cents. The 10 cent resistance established in 1999 remains intact as the 10c level was an intraday high with the prce closing well down on the day at 8.9cents.

    A break above 6.6 cents gives a first target of 9.3 cents, which is within the 10 c resistance level. A close above 10 to 10.5 cents would be a more bullish signal and give a first target around 18 cents. A close below 3 cents and the outlook changes to bearish"

    Well there you have it. On my improving fundamentals and you good looking chart maybe we might make some money on this one!!!! JBC
 
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Last
12.0¢
Change
-0.005(4.00%)
Mkt cap ! $83.77M
Open High Low Value Volume
12.0¢ 12.0¢ 11.0¢ $87.64K 759.5K

Buyers (Bids)

No. Vol. Price($)
1 40000 10.5¢
 

Sellers (Offers)

Price($) Vol. No.
12.0¢ 1705 1
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Last trade - 16.10pm 14/11/2019 (20 minute delay) ?
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Last
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  Change
-0.005 ( 0.00 %)
Open High Low Volume
11.0¢ 12.0¢ 11.0¢ 87901
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CUE (ASX) Chart
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