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zmans

14,607 Posts.

1458

14/10/20

20:54

Post #: 48099344
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Originally posted by JoeBlow: ↑

Interesting day. Finished the day down a bit but the candle was what's called an "inside day".

Here's bit of a blurb on it, "An inside day shows that volatility has dropped from the prior day. The market is taking a pause. This is why the pattern is often considered a continuation pattern. In the Encyclopedia of Chart Patterns, Thomas Bulkowski found that in over 29,000 samples of the pattern, the price continued in the same direction it entered the pattern 62% of the time."

So here's the chart

And here's the course of sales for the day

Note the 4.10pm dump was only 16,735 shares.

"From 4:00pm to 4.10pm there is no trading, however orders can be entered, amended and cancelled while the market prepares to close. What occurs next is known as the Closing Single Price Auction (CSPA) which is when all overlapping buy and sell orders will trade at the final closing price. This occurs sometime between 4:10pm and 4.11pm."

I reckon tight stops hit, nervous profit takers and some-one after 4pm made a change. It's a buying opportunity IMHO.

Expand

Inside days on lower volume from the previous days are generally considered bullish.

MEM Price at posting: 12.5¢ Sentiment: None Disclosure: Held
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(20min delay)
Last 1.0¢		Change 0.000(0.00%)		Mkt cap ! $13.82M

Open	High	Low	Value	Volume
0.0¢	0.0¢	0.0¢	$0	0

Buyers (Bids)

No.	Vol.	Price($)
4	2392219	0.8¢

Sellers (Offers)

Price($)	Vol.	No.
1.0¢	11484	1

View Market Depth

No.	Vol.	Price($)
4	2392219	0.008
7	6377999	0.007
7	2520583	0.006
4	2410000	0.005
4	2920833	0.004

Price($)	Vol.	No.
0.010	11484	1
0.012	271782	2
0.014	188890	4
0.015	26002	3
0.016	339406	1

Last trade - 16.12pm 12/08/2024 (20 minute delay)

MEM (ASX) Chart

Day chart unavailable