The best part for long holders was that yes, there’s a lot of stock being sold off but there was a point today (lower bollie) where buyers said, “ you know what, that’s enough”. And they soaked up all the supply raising the SP leaving that long lower wick.
Therefore from a technical standpoint you could easily assume that selling supply might be slimming out. So it is a bullish indication but only one. You’d need to use that indication in combination with others to confirm a shift in momentum. IMO.
Cheers.
PS, you can’t blame anyone for taking profits here and closing positions. It’s probably been in the top 5 best stocks for 2023-24 FY.
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Last
$5.42 |
Change
0.350(6.90%) |
Mkt cap ! $1.689B | |||
| Open | High | Low | Value | Volume |
| $5.10 | $5.53 | $5.10 | $8.270M | 1.560M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 1951 | $5.40 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $5.44 | 4280 | 2 |
View Market Depth
| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| CU6 (ASX) Chart |