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
$3.27 |
Change
-0.030(0.91%) |
Mkt cap ! $584.0M | |||
| Open | High | Low | Value | Volume |
| $3.40 | $3.41 | $3.26 | $1.586M | 479.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 6878 | $3.25 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.28 | 2790 | 1 |
View Market Depth
| Last trade - 16.10pm 07/10/2024 (20 minute delay) ? |
| BMN (ASX) Chart |