I don’t usually look for candlestick indications in short term trading activity but it’s too good to ignore here. A close above 55c will mark 6 trading days with ‘step-ladder’ momentum. Green, Red pattern increasing at a decreasing rate. Standard accumulation approach when a tree-shake is occurring. Relatively similar to activity in March-2023 when we gapped from $1 to $1.6. Slightly resembling December activity in a similar gap from 60c to mid 80s. We’ll know what day news drops or large buyers decide they want to open up the throttle as it’ll be a 15-30% increase.
The volumes we are seeing are also indicative of a gap up. Price increases seeing large volumes, decreases showing significantly smaller volume days, evidence that it is a buyers market. Every possibility we see tomorrow continue this trend with a substantial buying day, news dropping or both. It’s a trend until it breaks it, but the chances of flipping a coin 6 times in a row and predicting the correct outcome is 1 in 64. Proving that the chances of this trading pattern being random are 63-1.
Tomorrow will be tell tale, if my prediction is correct, large volume, another 5-10% increase above closing price today (~60c). Then we are set to gap into the expected 80c range.
- Forums
- ASX - By Stock
- Ann: High Grade Discovery 4m @ 7.0% Cu - Exploration Update
I don’t usually look for candlestick indications in short term...
- There are more pages in this discussion • 82 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add CNB (ASX) to my watchlist
(20min delay)
|
|||||
Last
56.5¢ |
Change
-0.015(2.59%) |
Mkt cap ! $96.28M |
Open | High | Low | Value | Volume |
58.0¢ | 58.0¢ | 54.5¢ | $476.3K | 851.1K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 55 | 59.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
56.0¢ | 5000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 30191 | 0.565 |
3 | 17137 | 0.560 |
3 | 35776 | 0.555 |
6 | 75718 | 0.550 |
5 | 107600 | 0.540 |
Price($) | Vol. | No. |
---|---|---|
0.570 | 33530 | 3 |
0.580 | 73431 | 4 |
0.610 | 22537 | 2 |
0.620 | 30000 | 1 |
0.635 | 3500 | 1 |
Last trade - 15.59pm 04/06/2024 (20 minute delay) ? |
|
|||||
Last
56.5¢ |
  |
Change
-0.015 ( 2.99 %) |
|||
Open | High | Low | Volume | ||
57.0¢ | 57.0¢ | 54.5¢ | 253528 | ||
Last updated 15.59pm 04/06/2024 ? |
Featured News
CNB (ASX) Chart |