5GN has decisively moved up against the downward trendline with strong momentum and High Volume. This indicates a change in trend. Price may continue to move higher but if it finds resistance along the way and retrace lower, it may provide a great opportunity to buy. It may be heading towards its resistance level of $1.250.
Please note these are my own notes, by...
Around 48% off near high, now showing some support above 1.30, mid- long term outlook is strong
Short term trading volume is a relatively low for recent spike back to 1.44, may show short term weakness before rising again.
Looking forword to reach previous high @1.72
After retracing to the 61.8% fib, it has bounced out of the trendline but not the resistance zone of $1.42c. Whilst PA suggests bullishness, I would prefer a confirmation with a break of the $1.48 - $1.51c zone
Appears that 5GN is respecting its current trading channel while also once again providing a buying opportunity by the support of the 50MA. The current price is also under the recent Institutional Placement at $1.80.
After dipping down to the 88.6% fib retracement level, it has recovered back to the $0.90c levels. It faces a historical resistance zone near the $1.055 level but once it breaks & closes above that the potential is good. Based on the slow stochastic it is in oversold territory. Wait & Watch
I hate calling bottoms or tops but I am watching this one carefully. The $0.67c - $0.70c zone has been tested on 3 occasions so the next few moves will give us a clue
5GN announced quarterly report last Friday. Sustained performance with quarterly cash receipts of $15.4m; full year cash receipts greater than expected at $53.6m, a total of $30.8m in receipts for the second half compared to the first half of $22.65m.
The growth may not great enough, then the share price crashed today. The support is around 0.7.
$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...
After finding value here @ $1.20. I had a quick look at the charts and sold @1.62. we either go back to $1.20 or have a sharp drop but quick and continue this trend. I'll be watching closely here. Like all new technologies some companies make it some don't. But for now charts indicators showing sell ....but I could be wrong
