Crispin, good question.
For the month of November last there were 1,210,458,045 shares traded on the ASX alone.
The chart shows monthly candles which represent the open, the high, the low & close for the month.
For the next four months the price pretty well stayed the same, so in chartist speak we call that accepted.
Here's where it gets a bit hazy & I think you are suggesting that because the price didn't move, the legion of new holders became impatient, started to sell, looking for the next good thing, then the panic set in for no other reason than the price didn't go up.
In a nutshell then, the price went down on air!
I hope this goes some way to answer your question & is only my opinion.
Cheers
IMUGENE CHART. TA only, page-32837
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Last
5.5¢ |
Change
0.003(5.77%) |
Mkt cap ! $404.2M | |||
| Open | High | Low | Value | Volume |
| 5.2¢ | 5.7¢ | 5.2¢ | $802.5K | 14.79M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 348447 | 5.4¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 5.5¢ | 1214875 | 6 |
View Market Depth
| Last trade - 16.10pm 09/08/2024 (20 minute delay) ? |
| IMU (ASX) Chart |