I don't think people would wait 14 odd years to get their money back - however it can't be ruled out..
But to your point and question - you are correct in your assumption. A previous ATH is a psychological level that will present itself as resistance (people who bought the top and got locked in will take the opportunity to exit without a loss) and flip to support if the demand is there.
Traders will see the level coming up and use it as a sell target, or buy if they see the price blaze past it on volume. Maybe a market maker will soak some supply to create the illusion of support and suck in a few people to sell to. Plenty of ideas out there.
Further more there was a frothy top on large volume yet the price moved nowhere. Confirmation came the day after.
ADN CHART, page-4545
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Last
0.7¢ |
Change
-0.001(12.5%) |
Mkt cap ! $25.45M |
Open | High | Low | Value | Volume |
0.7¢ | 0.8¢ | 0.7¢ | $16.17K | 2.247M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
34 | 38207421 | 0.7¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
0.8¢ | 11502645 | 22 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
34 | 38212693 | 0.007 |
55 | 19996945 | 0.006 |
35 | 17433693 | 0.005 |
10 | 10825000 | 0.004 |
7 | 11448333 | 0.003 |
Price($) | Vol. | No. |
---|---|---|
0.008 | 11508234 | 22 |
0.009 | 16572544 | 18 |
0.010 | 9097806 | 14 |
0.011 | 14387431 | 7 |
0.012 | 13774699 | 8 |
Last trade - 15.43pm 17/09/2024 (20 minute delay) ? |
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