A massive white candle on close after a head and shoulders with a large volume on close indicates strong reversal. It also bypasses the minor resistances @ 5, 5.5 and 5.7c. I would have liked it better to pass 6c but looking at the selldown, this reversal in unbelievable. Looking at past white candle reversals for CTP, more than 70% of them yielded positive and sustained SP for more than a month. Furthermore, the rises yielded returns of 20-30% in the short term.
What do i think will happen tomorrow. I believe it will open pass resistance of 7c. If it hits 8c tomorrow, it will almost be a guaranteed 10+c share this week.
Good luck to all holders. For me, unfortunately ive sold down a significant portion of my holdings earlier after confirmation of the head and shoulders pattern. Its a loss that i had to take as a trader.
Fortunately for others, in technical terms, such a massive white candle reversal on close immediately AFTER a H/S formation is rare and signifies strong market acknowledgement of this particular find.
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Last
4.8¢ |
Change
0.000(0.00%) |
Mkt cap ! $35.52M |
Open | High | Low | Value | Volume |
4.9¢ | 4.9¢ | 4.8¢ | $2.624K | 53.82K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 980647 | 4.8¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
4.9¢ | 189266 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 980647 | 0.048 |
1 | 200000 | 0.047 |
1 | 100000 | 0.046 |
3 | 500000 | 0.045 |
2 | 190000 | 0.042 |
Price($) | Vol. | No. |
---|---|---|
0.049 | 189266 | 2 |
0.050 | 100000 | 1 |
0.055 | 450000 | 1 |
0.056 | 178589 | 1 |
0.059 | 25000 | 1 |
Last trade - 16.10pm 26/07/2024 (20 minute delay) ? |
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CTP (ASX) Chart |