Hi strazza
I'm not a TA but, still learning. The following link explains gaps:
Gap Trading Strategies at StockCharts.com
As a FA like you I don't draw the more complex charts but refer to basic charts as a guide and take note of the generous chartists who post their charts and commentary on HC.
The latest chart we have seen was from Rhodes2Ritches at post# 5331649.
The gap they are talking about was created at the end of April and is looking to be filled. TAs use them as points to look out for as reversals.
MEO is full of gaps. It is that kind of a stock. The biggest one was created in January 2008 and appears to have been the bane of MEO since. The gap was a fall from about 70c to 20c at the time when a number of stresses came into play including Heron and Lehman Bros.
You can see it on Orgone Accumulator's chart at post# 5006702.
Unfortunately Orgone has been suspended and isn't posting anymore.
With a few good announcements and success at Artemis this could be left behind for good. In the mean time the roller coaster continues albeit rather subdued running up to FIRB.
ATM there appears to be strength in the upward trend as the pressure from bots and sell depth stacking eases.
#:>))
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