Very surprised to see no follow through after our little break of 19.5 with volume.
In hindsight, the fact it didnt have any follow through was a strong indication of lower prices to come.
Below is the hourly chart, everytime BOT was above 70, we saw a stall or a retrace, as it was in "overbought" territory.
We are now under 30 in "oversold" territory.
Two cases from here:
1. We bounce and recover the 18 region - labelling this as a final treeshake - which may mean higher prices ahead.
or 2. we stall, and spend some time around the 16.5/17 mark - which may mean lower prices ahead as the RSI resets.
Important to note indicators are lagging factors, they dont predict the future they simply show what has happened in another form other than a chart.
Patiently watching this one. (Held)
Jake D
Very surprised to see no follow through after our little break...
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Last
33.5¢ |
Change
0.005(1.52%) |
Mkt cap ! $527.6M | |||
| Open | High | Low | Value | Volume |
| 33.0¢ | 34.5¢ | 33.0¢ | $1.680M | 4.991M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 32 | 1122715 | 33.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 33.5¢ | 22219 | 1 |
View Market Depth
| Last trade - 16.10pm 18/06/2024 (20 minute delay) ? |
| BOT (ASX) Chart |