Nice little "hammer" or "umbrella" candle on the daily today all be it on light volume.
*The Umbrella indicates that sellers mostly dominated trading during the day and they were able to drive prices lower. However, buyers resurfaced at the end of the day and they successfully pushed prices back to the opening level and to the day’s high. The Umbrella has the potential to signal a bullish reversal at the bottom if it appears after a long downtrend, long black candlestick or if it is seen at a support level. Likewise, umbrella may signal a bearish reversal at the top if it appears after a long uptrend, a long white candlestick or if it is seen at a resistance level. Bearish or bullish confirmation is required in both situations. Source ---> http://www.candlesticker.com/Pattern.aspx?lang=en&Pattern=0711
Good to see we have the daily Slow Stoch and the MACD turning up, OBV is strong, roadshows about to kick off, AGM next week and a ''formal'' update on Track Concepts in the coming weeks = Bullish imo!
We await conformation.......
The above is my interpretation only - happy to hear others views, conflicting or otherwise.
Investing.com daily summary also for those interested ----> CM8 Technical Analysis
GLTAH!
Ann: CM8's New App connecting users with TV stars, page-57
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Last
1.7¢ |
Change
-0.002(10.5%) |
Mkt cap ! $20.86M | |||
| Open | High | Low | Value | Volume |
| 2.0¢ | 2.1¢ | 1.7¢ | $126.8K | 7.041M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 265719 | 1.7¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 1.8¢ | 145000 | 3 |
View Market Depth
| Last trade - 16.10pm 16/08/2024 (20 minute delay) ? |
| UNT (ASX) Chart |