TAP 0.00% 7.8¢ tap oil limited

over bought, page-38

  1. 8,443 Posts.
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    My take on todays price action, the past 2 days the sp has gone up on very low volume, today we seen the highest volume in the past 6 months yet we seen the sp finish the day even and the price range was very small which usually means supply is now outweighing demand and people are not starting to sell heavily on the back of todays annoucement.

    The past 4 weeks the share price has risen on no news but i dare say insiders knew back then exactly what was coming. Like we seen over the weekend, someone on here also knew what was coming even before the annoucement was out.(Inside information?)

    Had todays price bar finished on its high with a larger price range then i would say that the share price would continue to rise as demand would still be outweighing supply but it did the opposite hence why i think the price will drop from here.

    Chart below may help explain what im talking about for those interested.

 
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