For many traders the cross is the trigger to buy.
CNB will be on their radar as they watch for the cross to happen, once it does their buy orders will flow in....this is what drives the price up so quickly.
When will the cross occur? It really depends on daily price movements. The 8, 50 and 200 Cari mentions are moving averages.....in other words the higher the price today, the quicker the cross will come.
‘Can the cross not form? If we go below 27c then the moving average will turn flat rather than the current upward trajectory that will result in the cross.
At this stage the cross looks to be forming to me...bring on this week
You might want to take a look at this..., page-273
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Last
39.5¢ |
Change
-0.020(4.82%) |
Mkt cap ! $67.91M | |||
| Open | High | Low | Value | Volume |
| 41.0¢ | 41.0¢ | 38.5¢ | $88.59K | 224.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 2200 | 39.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 39.5¢ | 1355 | 1 |
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| Last trade - 16.10pm 04/10/2024 (20 minute delay) ? |
| CNB (ASX) Chart |