Yes Steini, if the SP did bounce from this current level it would be regarded as a double bottom.
But the thing is, you wouldn't want to use that as an entry signal tomorrow morning. There's a few far more important indicators / signals that override a double bottom currently.
Just in my opinion because the SP closed at the low of the day on a pretty strong day volume wise then it indicates that it has a bit further to go so it may as well close that darn gap at .066 while we're here.
It's still a sit on hands play but the bonus is that for our 20k we now get far more shares therefore more profit per pip.
Cheers
IMUGENE CHART. TA only, page-32140
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Last
5.9¢ |
Change
0.005(9.26%) |
Mkt cap ! $433.6M | |||
| Open | High | Low | Value | Volume |
| 5.5¢ | 5.9¢ | 5.4¢ | $1.489M | 25.99M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 35252 | 5.9¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 6.0¢ | 1753430 | 24 |
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| Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
| IMU (ASX) Chart |