When a stock doubles it needs double the amount of new buyers (vol/cash $) to flush out/ churn the older buyers that have doubled their money (very simple explanation). If there's not enough vol stepping up to replace them, then the old buyers will sell. Which will cause the price to go down (depending on if new people try to "buy the dip") which may slow the downtrend.
Mind the Gap, page-75
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Last
$1.65 |
Change
-0.045(2.66%) |
Mkt cap ! $1.833B | |||
| Open | High | Low | Value | Volume |
| $1.66 | $1.66 | $1.60 | $15.26M | 9.360M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 2375 | $1.65 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.65 | 90411 | 20 |
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| Last trade - 12.40pm 05/07/2024 (20 minute delay) ? |
| ZIP (ASX) Chart |