Some serious volume went through on the open lot’s of punters buying in and a big heap of capping or stopping volume from the smart money as well, smart money sold into the rally very hard and then stepped out when they saw that they had reached saturation.
After they stepped out there was some price rise that was attributed to the still eager market but its influence was short lived as can be seen by the rise soon after without the volume(thje market cannot rise on falling volume). If the big end of the market wanted it to go up they would have participated but they didn’t (well they did, they sold a lot of shares) this morning action really set the stage for the day to follow.
Here we can clearly see their intentions, they won’t fight the market but they will guide it, these are successful tests, which told them they can go down and accumulate more (cover shorts)
And then of course there is the double average closing volume that is just damn scary cause it is not going up but on it’s way down hmmmmm.
Note the difference in the action in these two points and of course we didn’t even touch the trend line today :( To me it just looks like there are a lot of new stop loses to kick people that managed to hold today might be edgy. It’s a fun stock to be in that’s for sure (I wouldn’t of found great chartists like Mitta and Botfodder without it)
monday musings, page-33
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Last
$7.14 |
Change
-0.200(2.72%) |
Mkt cap ! $6.673B | |||
| Open | High | Low | Value | Volume |
| $7.34 | $7.34 | $7.13 | $39.28M | 5.467M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1546 | $7.13 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $7.15 | 72361 | 6 |
View Market Depth
| Last trade - 16.10pm 15/11/2024 (20 minute delay) ? |
| LYC (ASX) Chart |