The first two highs price-rsi divergence indicates reversal which was confirmed by price falling from 18c to 10c on intraday charts.Since, RSI and price are consistent and no divergence has occurred as it’s conspicuous in your chart.
Generally, RSI is a momentum indicator and may be relied on to find the price reversal only if it conforms to the trend. Otherwise, like in ASN case, using RSI on a daily side chart is misleading and may result in falling a trader into a liquidity zone!
The first two highs price-rsi divergence indicates reversal...
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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 |