Ann: Project Updates-AUQ.AX, page-51

FWIW, on the wave chart, with a larger (than normal) sized wave over it (4/10ths of a cent).

(The wave chart is looking at the waves of buying and selling, the cumulative volume on these up and down waves is considered as 'force', and these waves can then be compared with each other )

There was easily enough downside volume on the last wave down (153), to make a lower low (compare it to the previous wave lower on 11.9mil), but it couldn't, or didn't make a lower low, so the suggestion has to be that the supply coming in was being absorbed (bought/accumulated), and it was that buying which 'held the market up', and didn't allow a lower low to form.  
And this thought was confirmed to some respect, with price moving higher on 7.2mil shares in response, and you would expect that price may (at least) attempt to breakout now, as there is a sharp increase in upside volume (compared to the previous upwave) on the current (still incomplete) wave.


cheers

PS- Big liquid markets work best for all methods of charting, as they are less likely to be seriously affected by unexpected increases in supply or demand, particularly the wave chart (above).  Small and micro cap charting works fine at most times, but can be less reliable when there are large unexpected changes in supply and demand.