APX 0.00% 47.0¢ appen limited

APX Charts, page-1122

  1. 671 Posts.
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    I am of the opinion that APX experienced a Selling Climax today.  Below is a definition .

    A period of extraordinary volume which comes at the end of a rapid and comprehensive decline which exhausts the margin reserves of many speculators or patience of investors. Total volume turnover may exceed any single day’s volume during the previous upswing as Panic Selling sweeps through the stock or commodity. Also called a Clean-Out Day, a Selling Climax reverses the technical conditions of the market. Although it is a form of a One-Day Reversal, it can take more than one day to complete.
    Source:
    Edwards, Robert and Magee, John. Technical Analysis of Stock Trends 9th Edition; (c) 2007.

    The chart below shows that today's volume is significant higher than recent as well as 91% higher than the worst day in March 2020.  In March 20 it consolidated for about 4 weeks around the low  (bottomed out at $15.70) I expect similar consolidation to occur. Once consolidation is completed filling the gap at $19.63/20.25 is first target then  resistance at $23/24 range as 2nd target. Not easy to buy when everyone is running for the exit but as explained elsewhere there is upside since covid did impact on results which is now history and will have little or no impact for next 12 months.  GLTA

    upload_2021-2-24_21-56-56.png
 
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Last
47.0¢
Change
0.000(0.00%)
Mkt cap ! $104.8M
Open High Low Value Volume
47.0¢ 49.5¢ 47.0¢ $674.7K 1.416M

Buyers (Bids)

No. Vol. Price($)
7 98104 47.0¢
 

Sellers (Offers)

Price($) Vol. No.
47.5¢ 300 1
View Market Depth
Last trade - 16.10pm 04/07/2024 (20 minute delay) ?
APX (ASX) Chart
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