Finally, the test bar I have been waiting for. I don't normally...

Finally, the test bar I have been waiting for. I don't normally post charts mid week, but this one warrants it.
In regards to test bars this one is as good as it gets. Boring for many, but a delight for me.
So what do I mean by test bar?
I try to watch for any tracks left behind from from anyone that is in control of any given market or stock. Tracking these guys on any stock is a matter of gathering information left behind over cumulative days/sessions and building a consensus on what you think they might be up to. Whether its accumulation, distribution, absorption of excess supply, or testing for supply and so on.

The bar I have highlighted in the below chart is testing for supply, they do this by moving the price down at a very specific price to flush out any weak hands.
If there are plenty of weak hands the price will continue to fall extending the spread of the bar and increasing the volume behind the bar.
If there are little or no weak hands, the spread of the bar stays tight, on low volume and generally finds strength closing off the low of the bar.
This tells us that there is no supply left at this level and the floating supply that was previously at this level has successfully been absorbed. Testing is done before a mark up in price, they want to make sure they have removed the floating supply at the lowest price possible before marking up the price or before the next rally begins. Think of it as reward for effort, you get a lot more bang for your buck removing weak hands at 10c than you do trying to absorb them if you mark up the price too early and have to absorb all the weak hands exiting at 20c.

This is a great test bar, in a critical area, on low volume, closing off the low.
This will have to be confirmed tomorrow with a bar closing higher than today's price.

AZL Daily test bar