AKE (ASX) AKE Chart

Originally posted by akgo01: ↑

Yes, that is what I was referring to, clivemax.

And I don't think what AKE got yesterday was that, although it closed at $14.01, the highest closing price so far. From morning to afternoon yesterday I was waiting for the excitement of an upthrust but the price was kept around $13.90 until after 2 pm. I knew the UTAD I was waiting for was not coming. I lost my PatienceToWin so I sold all my trading parcel. I still keep my holding from GXY.

I am sure this UTAD is coming because I can see all the setup up to this point indicates a preparation for it. I don't know exactly when, though. And I don't think the bullish closing price yesterday and the positive results in Nasdaq last night are enough to power an upthrust such as the one I am referring to next Monday. The share price may spike on open next Monday but I think it will be sold into and end in red.

As I posted last Thursday night, I just noticed AKE had UTAD on 30 November 2021. Was that when the company release its positive annual report? Have a look at this:

It took almost 15 million shares changing hands on that day to make that UTAD. It is a dramatic event, especially because the share price tumbles afterward.

Now compare the price action between UT and the arrow above with the one below. Do you see the resemblance? Even the volume and duration!

When I posted last week on 20 May about the ultra high volume of that day I still didn't notice the same ultra high volume on 29 October 2021 which brought the share price to the level of the BC in 5 days. But it turns out they show an identical move; now AKE share price is at the same level as the BC price (as we are talking about a price of 1,400 cents, we should ignore a few cents higher or lower).

With this evidence, I would say those who say Wyckoff's graph is obsolete are blind, and those who say it is just a coincidence are illiterate to charts.

Expand

Those having good memory who read my posts a few months ago would wonder how I could call the period from August to November last year as an accumulation phase and now as a distribution phase. The explanation is that what phase we see depends on the perspective we take to look at it.

That is really just my own interpretation from looking at Wyckoff's accumulation and distribution schematics or diagrams or graphs. The accumulation schematic is the distribution one if we look at it upside down!

Heaven is just the mirror image of hell!