Technical Commentary – SBM (St Barbara Limited)
SBM has formed a textbook double bottom pattern, confirming a bullish reversal from prior downtrend conditions. The price action has since broken above neckline resistance and is now trending within a well-defined rising channel, supported by increasing volume and aligned moving averages.
The stock is currently targeting the next major supply zone around 44c, where a previous gap remains unfilled. The recent wave structure suggests a classic Elliott Wave impulse, with the current leg aiming for wave (5), coinciding with this resistance level.
Short-term momentum remains strong, with bullish alignment across the 20, 50, and 100-day moving averages. A break and close above 44c may signal a continuation toward higher resistance zones established in late 2023.
Key Levels:
Support: 33c–34c (previous resistance turned support)
Resistance: 44c (gap fill target)
Trend: Bullish above 30c
SBM has formed a textbook double bottom pattern, confirming a bullish reversal from prior downtrend conditions. The price action has since broken above neckline resistance and is now trending within a well-defined rising channel, supported by increasing volume and aligned moving averages.
The stock is currently targeting the next major supply zone around 44c, where a previous gap remains unfilled. The recent wave structure suggests a classic Elliott Wave impulse, with the current leg aiming for wave (5), coinciding with this resistance level.
Short-term momentum remains strong, with bullish alignment across the 20, 50, and 100-day moving averages. A break and close above 44c may signal a continuation toward higher resistance zones established in late 2023.
Key Levels:
Support: 33c–34c (previous resistance turned support)
Resistance: 44c (gap fill target)
Trend: Bullish above 30c
İşlem aktif
Trading halt, negative new, can derail this momo traDE
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.