Morning all. Recently been doing some reading into Volume Price Analysis (Anna Coulling). Seems like a decent read so far. Last night got me looking back across the CKA chart and this candlestick stood out.
Low to medium volume, large down wick suggesting that someone wanted to test whether any selling in the mid 6's still existed. There wasn't so price rose to finish near the opening price. Coincidence or not but I believe it was the following day that we received the Valmin NPV and jumped to 8c.
My take on it is that mid 6's are now a past time. 6.7 being touched recently 3 times and bouncing off each occassion would appear to be reasonable support.
By no means an expert in the TA department but getting better each and everyday!
Chart, page-31
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