Hi All,
Below is my understanding of ASN chart according to Wyckoff Method:Conclusion: The next movement will be the Breakout.
- Conclusion of Reaccumulation phase: Price action the last 2-3 weeks (after conversion of 6.7m oppies) and dumping them into the market indicates the shake out phase is in progress. It usually happens at the end of accumulation/reaccumulation phase. These movements are initiated by large traders/professionals to expel rupture, fearful and even some of smart traders out of the market.
- Several secondary tests have occurred that denotes greater strength of the buyers.
- The whole price action in progress is called "Succeeding with the Manoeuvre". That means the professionals who will later unbalance the market and cause breakout are trying to take advantage of the displacement caused by the rupture trading.
- Also, note the low volume incorporated in price decline afew days before the break out throughout the chart.
Hi All,Below is my understanding of ASN chart according to...
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Last
13.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $167.7M | |||
| Open | High | Low | Value | Volume |
| 13.0¢ | 13.5¢ | 13.0¢ | $102.0K | 784.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 221860 | 12.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 13.0¢ | 99454 | 1 |
View Market Depth
| Last trade - 15.59pm 05/07/2024 (20 minute delay) ? |
| ASN (ASX) Chart |