Hi speves,
IMO, the decline in last week was totally technical & was by traders.
I believe there were 3 technical reasons for the decline:
1. there was a gap between 4.3c & 3.5c that techies like to fill before they would see the stock going higher again.
2. We have support on 3.5c & that had to be tested.
3. RSI indicator was clearly showing that AAR was overbought & started to decline below 90 which always means that it's time to sell becuase popularity is fading away & techies don't like to be stuck in an unpopular stock.
Now the situation is:
1. the Gap is filled by touching 3.5c twice.
2. Support was tested by touching 3.5c twice & it didn't break!!
3. RSI is in the right position to attract more buyers rather than attract sellers.
If I'm not mistaken, I believe sellers were traders & I would also think we still have a big chunk of traders holding because I can't see any more sellers & that is a sign that the same traders who were selling before on depth are now expecting a rise & therefore they pulled thier sell orders!
cheers,
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Last
9.7¢ |
Change
-0.001(1.02%) |
Mkt cap ! $90.71M |
Open | High | Low | Value | Volume |
9.9¢ | 10.5¢ | 9.7¢ | $229.4K | 2.307M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 6999 | 9.7¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
9.9¢ | 9000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 6999 | 0.097 |
2 | 4048487 | 0.096 |
1 | 12000 | 0.095 |
1 | 18617 | 0.094 |
1 | 25000 | 0.086 |
Price($) | Vol. | No. |
---|---|---|
0.099 | 9000 | 1 |
0.100 | 408694 | 2 |
0.105 | 390211 | 6 |
0.110 | 342868 | 3 |
0.115 | 391269 | 2 |
Last trade - 16.10pm 02/09/2024 (20 minute delay) ? |
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AAR (ASX) Chart |