It is called a Megaphone pattern. By definition they are a neutral signal. i.e. Traders are not confident about the market direction. Even at todays new intraday ATH it is still within the patterns grasp.
So by in large you won't see me celebrating a breakout just yet... Above $164 and we can say a breakout and a subsequent run is a possibility.
https://blog.elearnmarkets.com/how-to-trade-megaphone-pattern/
It is called a Megaphone pattern. By definition they are a...
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 (20min delay)
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Last
$182.53 |
Change
-0.320(0.18%) |
Mkt cap ! $305.4B | |||
| Open | High | Low | Value | Volume |
| $182.51 | $183.00 | $180.13 | $1.091B | 6.388M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 400 | $182.50 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $182.55 | 3394 | 1 |
View Market Depth
| Last trade - 16.10pm 20/06/2025 (20 minute delay) ? |
| CBA (ASX) Chart |