Now TA is not my forte, but I reckon there would have been many a time in the course of that chart when players/forecasters might have gone maybe/maybe not. The longer term trend line touches 3-4 points so the next could be well ahead of this price point.
With that in mind I see the late buying of large parcels in the last session (that all but cleaned out the 19.5cent line) as in itself the clearest indicator of a reversal in sentiment. It went against the prevailing trend and I will be looking to see a positive close tomorrow as an indication that the fence-sitters and shorters are looking to take positions.
AIMVHO, esp.
chart analysis for beginners, page-17
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Last
39.5¢ |
Change
-0.010(2.47%) |
Mkt cap ! $573.7M | |||
| Open | High | Low | Value | Volume |
| 39.5¢ | 40.8¢ | 39.0¢ | $1.291M | 3.270M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 160217 | 39.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 40.5¢ | 119125 | 4 |
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| Last trade - 16.10pm 02/09/2024 (20 minute delay) ? |
| IMM (ASX) Chart |