Please tell me what website are you using? I'm using free site advfn.
The figures were at 14.25
Advfn indicated 1.657m buyers and 1.524 sellers with 670k on hold at 16.10
What I saw there're some improvements on traded data
14/2 buyers 1.411m sellers 1.676m on hold 1.563m
16/2 buyers 1.657m sellers 1.524m on hold 670k
Weekly volumes increased from 2m on average to 3m on average for just 3 days this week. Increased volumes are attracting buyers and sellers.
Massive sellers side doesn't mean the price will fall hard and in reverse with massive buyers side doesn't mean the price will rocket. It's all about liquidities in stock market. The more liquidities the more attractive the price in addition with the lower spreads.
People say volumes are the start of a trade.
Chart is also important
Sp is sitting right on the support weighted moving average. Positive
Green Di and Red Di are collided just a fraction above modified ADX. Positive
MACD is heading upward above exponential moving average where price is still in buyers divergence. Positive
A report next week will make or break this bullish chart and trading volumes. Strong buy for me as I think It's still safe to stay here.
If you look at fundamental You're more bullish about nickel and wsa.
I like wsa exposure in UK because of low Pound that makes resources more competitive than stronger currency countries.
Wsa is well place for Tesla's EV batteries as nickel accounts for 80% in cathodes NCA batteries.
Nickel are in tight supplies and cobalt is in deficit. Without higher ni price there're no incentives for nickel producers to explore more resources to produce both of those metals therefore ni must be supported if you think about battery storage solutions, especially cars.
WSA Price at posting:
$2.62 Sentiment: Buy Disclosure: Held
