Chart is setup beautifully! However, momentum dropped today after 12pm on the hourly chart, everything remains intact. Stochastic is oversold and possible further drop....a major support is at 30c, followed by a minor support at 26c- 27c and then the next major support sits at 21c. Also, inverted hammer formed on the weekly chart.The Inverted Hammer candlestick formation occurs mainly at the bottom of downtrends and can act as a warning of a potential reversal upward. It is important to note that the Inverted pattern is a warning of potential price change, not a signal, in and of itself, to buy. The Inverted Hammer formation, just like the Shooting Star formation, is created when the open, low, and close are roughly the same price. Also, there is a long upper shadow, which should be at least twice the length of the real body. When the low and the open are the same, a bullish Inverted Hammer candlestick is formed and it is considered a stronger bullish sign than when the low and close are the same, forming a bearish Hanging Man (the bearish Hanging Man is still considered bullish, just not as much because the day ended by closing with losses). After a long downtrend, the formation of an Inverted Hammer is bullish because prices hesitated their move downward by increasing significantly during the day. Nevertheless, sellers came back into the stock, future, or currency and pushed prices back near the open, but the fact that prices were able to increase significantly shows that bulls are testing the power of the bears. What happens on the next day after the Inverted Hammer pattern is what gives traders an idea as to whether or not prices will go higher or lower.
- Forums
- ASX - By Stock
- ZNO
- Chart
Chart, page-79
-
- There are more pages in this discussion • 7,483 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add ZNO (ASX) to my watchlist
|
|||||
Last
2.8¢ |
Change
0.001(3.70%) |
Mkt cap ! $9.889M |
Open | High | Low | Value | Volume |
2.8¢ | 2.8¢ | 2.8¢ | $1.118K | 39.94K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 110939 | 2.8¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
2.9¢ | 304864 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 110939 | 0.028 |
3 | 158150 | 0.027 |
5 | 1432050 | 0.025 |
3 | 166720 | 0.024 |
2 | 270000 | 0.023 |
Price($) | Vol. | No. |
---|---|---|
0.029 | 304864 | 1 |
0.030 | 1118200 | 2 |
0.031 | 126391 | 3 |
0.034 | 88000 | 1 |
0.035 | 127000 | 2 |
Last trade - 15.53pm 28/08/2024 (20 minute delay) ? |
Featured News
ZNO (ASX) Chart |
The Watchlist
UNT
UNITH LTD
Idan Schmorak, CEO
Idan Schmorak
CEO
Previous Video
Next Video
SPONSORED BY The Market Online