I thought this was worth contributing. I understand chartists like to see volume confirm price action and this PNV chart using 1 hour candles highlights it fairly well imo.
Since DW started buying, I've marked out the uptrends and downtrends in both price and volume. It appears fairly conclusive to me that volume increases in the uptrends and declines in downtrends. Tends to suggest accumulation by new large buyers rather than primarily short activity as was the case in the months before DW stepped in. So volume appears to be confirming/suggesting sustained changes in sp direction are afoot, could be a premature assessment or something to remain mindful of. Any other thoughts?
PNV - Chart, page-13925
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Last
$2.34 |
Change
-0.030(1.27%) |
Mkt cap ! $1.616B | |||
| Open | High | Low | Value | Volume |
| $2.41 | $2.43 | $2.32 | $5.953M | 2.536M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 29039 | $2.33 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.35 | 16702 | 3 |
View Market Depth
| Last trade - 16.10pm 30/08/2024 (20 minute delay) ? |
| PNV (ASX) Chart |