I don't know a whole lot about TA but I am curious what it would usually indicate if I stock is overbought and it continues to rise anyway?
The indicator is not going to be 100% accurate so what reasons have defied the indicator in the past?
Could there be a change in the FA? If it's broken out of the trading range can it just be the beginning of a new trend?
Why cant it be that there is just a new buyer aggressively looking to take a large stake or someone positioning for a takeover as we progress to production?
Theres certainly above average volume being traded at new ATH that are not stopping the buyer and I don't believe it's from retail holders. It's likely 1 or 2 institutions jostling for a large position amongst a tightly held register.
I noticed the shorts are also dropping off.
https://www.shortman.com.au/stock?q=abrAppreciate any feedback.
