Technically, the smart money (instos, banks, and even top 10) who will later unbalance the market and cause breakout are trying to take advantage of the displacement caused by the rupture trading.
Now who owns the majority of ASN shares? 76% of the company is owned by retails not the smart money. They probably want in badly but don’t want to pay the price. So, instead of buying on market, say 50m/0.3$ per share = 15mA$ (URF type), they sacrifice a few hundred thousand capital and manipulate the market. The idea is to create a toxic atmosphere of uncertainty and fear to expel the retails off market. Rear my post below.
https://hotcopper.com.au/threads/asn-chart.4273395/page-5665?post_id=61943773
According to Wyckoff Method, this stage is called SOS (sign of strength). I personally was waiting to see this stage as it has happened last time before the last break out. check this out.
Now:Also, according to the RTM method, this pattern is an extended compression pattern that ALWAYS accompanies with sharp bull run.
Technically, the smart money (instos, banks, and even top 10)...
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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 |