Technical traders would have seen this mark a strong support potential & would have been ready to buy.
Shorters would have taken $1.30 mark as a point to cover their shorts. The volume after it hit $1.30 was over 600k, so imo they were big buyers in the arvo.
Tomorrow it might try to test todays lows ... that generally is the litmus test of strength & support. If she goes down & buyers come in giving support, then todays hammer would be a "genuine" one, and will probably mark the bottom & signal a revearsal
cheers
chart signal, page-22
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Last
$2.19 |
Change
-0.050(2.23%) |
Mkt cap ! $387.5M | |||
| Open | High | Low | Value | Volume |
| $2.30 | $2.31 | $2.17 | $884.5K | 401.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 11 | 14654 | $2.18 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.19 | 8188 | 14 |
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| Last trade - 15.00pm 03/09/2024 (20 minute delay) ? |
| BMN (ASX) Chart |