I think its just a bog standard double bottom thats probably playing out really
a sharp decline is usually followed by a retest of that same bottom.
when a stock bottoms out and then starts rising quickly again, it gives long suffering holders a second chance to offload at a smaller loss than before
so its inevitable in a bad market that those who failed to act before to exit are now considering it again.
I wrote a scanner that analyses the entire market depth looking at the time orders were placed into the market and placing orders at the retesting of lows is a common tactic of traders. when you think about it, it makes for a good risk reward, as the recent low is the support point and a trader can place an order with a very tight stop for a potentially highly profitable trade with minimal downside
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Last
16.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $295.1M |
Open | High | Low | Value | Volume |
16.5¢ | 16.5¢ | 16.3¢ | $887.4K | 5.384M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
17 | 286883 | 16.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
16.5¢ | 40386 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
17 | 286883 | 0.160 |
13 | 529599 | 0.155 |
17 | 1265052 | 0.150 |
17 | 745185 | 0.145 |
10 | 442777 | 0.140 |
Price($) | Vol. | No. |
---|---|---|
0.165 | 40386 | 1 |
0.170 | 534963 | 10 |
0.175 | 1047347 | 8 |
0.180 | 501225 | 8 |
0.185 | 119057 | 4 |
Last trade - 16.10pm 18/10/2024 (20 minute delay) ? |
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