Something that I came across on the hotcopper site. . Might give some of us newbies a better understanding what is possibly happening. Maybe worth a read. See below.
It could also fall through the floor, all depends what the pros decide to do. Buy sides get stacked, everyone (us retailers) go wow, look how many people are buying, fomo kicks in, everyone starts to buy, then after a while and within an instant the buy side disappears (the buys weren't real were they?), everyone panics, price starts to fall, pro's then stack the sell side, creates more panic, more sell, pro's get your shares on the cheap. The process repeats until the price has been pulled far enough down to make the next push upward worthwhile. It's a game, we are merely the pawns. I watch market depths all day, everyday. There is often no reason to why the price moves other than to bait us into buying or selling.
The most reliable time to see a true market depth is after market close. At the end of the day most if not all of the traders buys disappear to start clean again tomorrow. I've watched very high numbers on market depths move up and down all day long just keeping out of reach of being taken. Do you think these orders are real? If they were why do they never get filled and move away in the split second before they would be filled. Then there's cross trades taking us all for a ride (How is that even legal without being considered to be market manipulation?). Then there's ChiX trades beating you to the sales by the way the order process works, especially on market open, you place an order, it checks the ChiX if can't be filled it falls back to the ASX and there it stays to be filled, meanwhile the pro's get the better buys through the ChiX by placing an order only to the ChiX where a sale awaits right at the instant that trading opens, you don't get that choice, your buy order only checks the ChiX once when you first place it.
Your 4 or 5 million each line from .035 up on your market depth screenshot don't seem to be there anymore (refer to after hours market depth below), in fact most have been at least halved, they'll disappear right on 4pm everyday. They'll be back tomorrow (unless they find something else better to play with) and they will play with us again to meet their needs, whatever they may be at the time. He who has the most cash wins.
SYA was clearly accumulated over a few months at around the 0.015 mark (refer chart), then a slight drop in volume (early Oct), the price pulls down to 0.011 to enable a stronger first push upward, price is then pushed hard (19/10), retailers buy again due to fomo, traders (And to a lesser extent retailers) take profits, four steps for SYA in this most recent case, profit was taken at 100% from the accumulation base of 0.015 then 200%, 300% (basic psychology at play here), everyone takes advantage of the bull cycle, announcements are released prices push harder, etc etc, all to meet all of the players own agenda (notice the higher number of credit raises right now, while things are at a high, before the sales decrease and a bear market sets in) price is then pulled back down until the desired point is reached (may take months depending on how quick we sell maybe even 18 months, refer 2 year chart) and a catalyst of some type kicks in (remember Lithium & Cobalt hitting the news everywhere a few months back? What better an opportunity to play with everyone) and the game starts all over again. It will come up again, I will still be here, I believe in the company and will hold because I don't know when it may get pushed up again and fear missing out more than I fear the price dropping as I know it will go up again as long as I wait and as long as the metrics stay the same or increase otherwise I might get bitten (For example if lithium is no longer in demand , or the market is flooded and the price drops). BTW, the price of Lithium has recently taken a hit and only started to turn back up again late last week (part of the reason most Lithium stocks have gone down),https://tradingeconomics.com/commodity/lithium. But even so, just about everything on my watchlists have fallen the last 2 weeks, even the very best that I hold, not just Lithium or Cobalt but tech stocks & pharma/pot too, it's nothing more than a game, we have been getting played for the last two months and we are the suckers if we allow ourselves to be. Either follow the market and sell high or if you believe stay with it for the end game. I've made profit off a few stocks over the last few months but I've also held the ones I believe in and will hold until it plays out. By the way those that tell us to hold also pray on basic psychology, they know many will hold until they are maybe 50% down then can't stand watching their money disappear anymore and sell at an even lower price than if they sold right now and guess who gets the cheap shares then. Either sell at the high (which for SYA is now gone for a while) or hang in there for the long haul otherwise they will take your money. Just about everyone here has an agenda and a whole heap on here are paid by those pro's or even just play you for their own benefit. Money is involved here, trust no one, make your own decisions, research the company and believe in it, or trade in and out and risk being scammed. I could show you over a dozen charts that look just like SYA and could cite at least a dozen that have met 300 - 1000% increases all in the last two months only to fall again just as quick as they went up. Traders need to make money, the end of the year is upon us, Christmas is almost here, the first half of the year was a non event, what other reasons do one need to take advantage of the market. I wonder who even releases the news and starts the hype to create a catalyst. No one here makes money unless they take it from someone else, & guess who takes the most? Not me or you. It ain't rocket science really, is it? This is all my opinion, I could be wrong but I doubt it.
And yes, the 5 minute chart does look like it may climb a little atm but probably not, the SO hasn't even hit 50% yet and is still falling from being over bought. Traders will use the SO more than any other indicator, or at least that what I have been led to believe.
AMD Price at posting:
4.0¢ Sentiment: Sell Disclosure: Held
(20min delay)