STX has once again confirmed the strength of the consolidation area around that 45 to 47 area. Firstly as strong resistance and now as reasonably strong support. Of note is the volume on Friday's bar, so high yet the relative spread was narrow and the close was reasonable.
To paraphrase the essence of volume and spread analysis "if we get confirming volume on a move or spread then the move is what it is, but if we get an anomaly between spread and volume then something else is happening." Might seem a bit vague but that's a quote from Tom Williams. Subsequent price action should tell us more.
STX Charts, page-923
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Last
23.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $659.0M | |||
| Open | High | Low | Value | Volume |
| 23.0¢ | 23.0¢ | 22.5¢ | $546.9K | 2.395M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 9 | 712707 | 22.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 23.0¢ | 4111812 | 24 |
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| Last trade - 16.10pm 07/10/2024 (20 minute delay) ? |
| STX (ASX) Chart |