I am not talking in hindsight by some others here. As you can see on my first post which has started this thread, shorters are covering very fast and price spike is significant today, it is causing a very strong breakout as you can see on the weekly chart below. The negative divergence which was explained on the first post of this thread was very obvious as well.
Also, the sp broken up the trend before (the second blue line on the chart) but it was not strong as it was only a breakout regarding to the closing prices. It has become a false break out and sp has come down back.
This time the breakout is so strong it breaks out the high and lows of the weekly prices. So it is does not seem to be a false breakout to me at all.
shorters in trouble, trying to cover very fast, page-112
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Last
$7.80 |
Change
-0.090(1.14%) |
Mkt cap ! $7.290B | |||
| Open | High | Low | Value | Volume |
| $7.85 | $7.94 | $7.77 | $14.33M | 1.828M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 5039 | $7.78 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $7.81 | 6633 | 1 |
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| Last trade - 16.10pm 02/10/2024 (20 minute delay) ? |
| LYC (ASX) Chart |