So far, we have seen the supply (selling), being absorbed within this same price channel (10c - 12c), regularly. In other words, someone is mopping up the selling. Why ? We don’t know yet…the difference between protection and accumulation can be deceptive at times. Protection being an entity purposely holding the company share price above a certain zone. In this instance - 10c being the constant protection barrier.
You ask - what signs may tell of accumulation? Well, if it were to be a subtle accumulation event - it shall continue for some time until two things occur. Which will provide the confirmation you seek. They are;
1) The seller/s that continue to off load are exhausted = no more supply. Nothing left to mop up.
2) Once the accumulator/s are full, they will buy up to increase the price beginning a reversal pattern on the chart. To confirm, a strong break and hold above 13c would signal a break out, reversal pattern event to bullish sentiment. Signalling the potential for a strong move. Momentum and volume here will be key under these circumstances. Without both momentum and volume, it will signal a fake reversal and price will again drop not long afterward.
These thoughts are purely based on TA….
Fundamental events are not taken into account in regard to the above comments - for example; a poor quarterly, production issues, under expectation product sales outcomes or funding concerns.
If my hunch is correct and we are potentially seeing a subtle accumulation event - those buying may be aware of something others are not
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Last
10.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $70.48M |
Open | High | Low | Value | Volume |
10.5¢ | 11.0¢ | 10.5¢ | $17.55K | 167.2K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 171468 | 10.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
11.0¢ | 221406 | 9 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 171468 | 0.105 |
8 | 650467 | 0.100 |
3 | 560000 | 0.099 |
1 | 130000 | 0.098 |
2 | 160000 | 0.095 |
Price($) | Vol. | No. |
---|---|---|
0.110 | 171406 | 8 |
0.115 | 88690 | 3 |
0.120 | 298360 | 7 |
0.125 | 395166 | 7 |
0.130 | 72391 | 3 |
Last trade - 15.18pm 26/07/2024 (20 minute delay) ? |
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