Hi Yatze4,
If you look at the daily candlestick chart, which makes it easier to see, you will note that the high for 17/11 was 11.5c and the lowest price for the following day was 12c. This leaves a half cent gap.
Many of these gaps fill, in that the chart subsequently comes down to the bottom of the gap, this being 11.5c.
Gaps can also be runaway, or breakaway gaps, in that the price movement is so strong that the chart does not come back and revisit the lower end of the gap. Such, at the moment, is the 9.5c gap on 18/12/20 referred to by Hoots above. (PS: Hoots is the technical trading master on HC and is generous with advice).
Like much of technical trading, the idea that a gap will fill tends to be self fulfilling because traders have a strong belief that they will fill.
Gaps are significant in that they also play the role of support and resistance. So, in this case, 11.5c should be a support level.
I should point out that all the above applies to gaps in downward price movements, with the relevant details reversed.
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Hi Yatze4,If you look at the daily candlestick chart, which...
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