$5GN - 5G NETWORKS - Rebounding off support

$5GN - 5G NETWORKS - Rebounding off support

Bounced off the bottom off its regression channel. 20% opportunity to get back to the top of the range. Bit of volume coming through with RSI (value) being lower but now turning up along with OBV. Moving averages nice and parallel and diverging. Might be worth a watch if it heads up again tomorrow.

About 5GN

5G Networks Limited is an Australia-based provider of Internet broadband and cloud infrastructure services to mid-market corporate industries. The Company is principally engaged in providing high speed broadband access to businesses. It also offers cloud-based solutions, managed services, and network infrastructure services. It provides technology solutions and services for integrated fiber and wireless access, cloud infrastructure, high speed Internet access, cloud network, virtual private network, voice over IP, and redundancy.

Comment:

Bounced as expected a couple of days later and has gained around 40% so far. Looks like it will continue for a while longer. Up around 300% from the start of the year so has been a nice consistent runner. Hopefully will continue for a while.

Comment:

Back at the bottom of its 90 day regression channel and looks like it has bounced and moving back up. Possible 15% to 20% in it if it does get back to the top of the range.