I'd prefer to think any purposeful accumulator would not subscribe to rubbish like "the gap theory". In fact the bulk of trades today have been on Chi-x. This points to non-retail trades holding the fore with the turn of events. Most retailers have little or no visibility 's of Chi-x trades even the EOD numbers. Thus are blissfully unaware of the day's proceedings. IMHO the little apparent trades viewed on the ASX lead folk to believe the demand is exhausted - meanwhile in the background accumulation takes place on Chi-x with minimal stimulus to the SP. It could be noted that Supply has also depleted, and it would then take stop targets to be taken out to refresh any momentum down again.
While there is no news it is immaterial what the SP is with regard "gaps" it is the value [and future value] folk are assigning that is salient. If any TA applies now it is support and resistance volumes.
ASX : 400k
Chi-X: 900k
A bit simplistic - but that chi-x volume filled on ASX would have SP nudging 0.25
chart..., page-21
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Last
2.6¢ |
Change
0.000(0.00%) |
Mkt cap ! $64.73M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 650000 | 3.4¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 2.6¢ | 281493 | 4 |
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| Last trade - 11.10am 17/10/2024 (20 minute delay) ? |
| ADO (ASX) Chart |
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