Yes Text as Yoda would say "predictable it is".
In VSA "Volume Spread Analysis" this type of price action is labelled "Testing for Supply". Drive the price down and if Supply is there accumulate. Is this the "Smart Money" accumulating again after the big selloff?
If today's candle is a "hammer" with a long bottom tail on good volume the answer is probably yes.
4DS Chart for Long Term Holders, page-24
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 (20min delay)
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Last
8.5¢ |
Change
0.003(3.66%) |
Mkt cap ! $144.6M | |||
| Open | High | Low | Value | Volume |
| 8.2¢ | 8.5¢ | 8.2¢ | $134.8K | 1.626M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 5964 | 8.4¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 8.5¢ | 61848 | 4 |
View Market Depth
| Last trade - 13.35pm 03/05/2024 (20 minute delay) ? |
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Last
8.4¢ |
Change
0.003 ( 2.44 %) |
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| Open | High | Low | Volume | ||
| 8.2¢ | 8.4¢ | 8.2¢ | 509835 | ||
| Last updated 13.40pm 03/05/2024 ? | |||||
| 4DS (ASX) Chart |