I hate to say it Rob but there's a lot of supply above that I don't think you are seeing. You talk of low volumes but have a look at the chart and look where the high volume is sitting and maybe ask yourself why?
I thought it may have been absorption volume but it's pretty obvious now that there was distribution occuring. Mitta warned of it and was correct.
We need to see some good volume come in on the downbars not the upbars.
Cheers
charting, page-27
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Last
30.0¢ |
Change
-0.005(1.64%) |
Mkt cap ! $436.3M | |||
| Open | High | Low | Value | Volume |
| 30.5¢ | 31.3¢ | 30.0¢ | $960.6K | 3.161M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 14 | 188729 | 30.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 31.0¢ | 46153 | 2 |
View Market Depth
| Last trade - 16.10pm 18/10/2024 (20 minute delay) ? |
| IMM (ASX) Chart |