SCL 1.10% 46.0¢ schrole group ltd

Ann: Change in substantial holding, page-26

  1. 716 Posts.
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    I realise this isnt the chart threat but given I said I would post one:

    1h time frame below:

    -The last hour (3-4pm) left us with a dragonfly doji - could signal a reversal (not always). However important to note the significant volume that came in during this period (long green bar where the only higher volume bar was when SCL touched 2.7c, briefy).
    -Noting it is at the bottom of the bollinger band, which should signal a short term reversal back up, whether it can hold or not we will find out tomorrow.
    -RSI hasn't been this low on the hourly chart since 17th of October - which then bounced back up.
    - trend line broken - whether it is a tree shake or not we will see. Given the volume that came in this hour it wouldn't surprise me if it was (could be biased). Worth noting that on the ALC chart, on its magical run up the uptrend was broken a few times - normally when trump tweeted or US markets were down, for it to quickly rebound the following day back above the trend line.
    - I was watching the price action from 3 till 4pm and note that as soon as there was about 1.9m or so of sellers stacked at 1.9c, it was gobbled up instantly and then left with about 3-4m of buyers waiting at 1.9c. Then I could see a seller clearly wanted out as he/she kept moving their sale order from 2.1c to 2c, eventually leaving it at 2c which also got gobbled up. Just an observation - take it how you will!

    Fingers crossed tomorrow she swings up. Good luck all.

    https://hotcopper.com.au/data/attachments/1866/1866087-e8e34666e2d988753f22e8c1c9064167.jpg
 
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