Not much happening except for the inverted hammer formed on the hourly chart (circled in red)
The Inverted Hammer candlestick formation occurs mainly at the bottom of downtrends and can act as a warning of a potential reversal upward. It is important to note that the Inverted pattern is a warning of potential price change, not a signal, in and of itself, to buy. The Inverted Hammer formation, just like the Shooting Star formation, is created when the open, low, and close are roughly the same price. Also, there is a long upper shadow, which should be at least twice the length of the real body. When the low and the open are the same, a bullish Inverted Hammer candlestick is formed and it is considered a stronger bullish sign than when the low and close are the same, forming a bearish Hanging Man (the bearish Hanging Man is still considered bullish, just not as much because the day ended by closing with losses). After a long downtrend, the formation of an Inverted Hammer is bullish because prices hesitated their move downward by increasing significantly during the day. Nevertheless, sellers came back into the stock, future, or currency and pushed prices back near the open, but the fact that prices were able to increase significantly shows that bulls are testing the power of the bears. What happens on the next day after the Inverted Hammer pattern is what gives traders an idea as to whether or not prices will go higher or lower.
- Forums
- ASX - By Stock
- A2M
- Chart Update
Chart Update, page-8933
-
- There are more pages in this discussion • 16,298 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add A2M (ASX) to my watchlist
|
|||||
Last
$6.85 |
Change
-0.030(0.44%) |
Mkt cap ! $4.952B |
Open | High | Low | Value | Volume |
$6.93 | $6.98 | $6.83 | $10.27M | 1.490M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
7 | 18844 | $6.84 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$6.85 | 41602 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
5 | 11039 | 6.840 |
1 | 3000 | 6.830 |
4 | 17920 | 6.820 |
4 | 9541 | 6.810 |
2 | 5020 | 6.800 |
Price($) | Vol. | No. |
---|---|---|
6.850 | 41602 | 1 |
6.860 | 548 | 1 |
6.870 | 8050 | 3 |
6.880 | 16820 | 3 |
6.890 | 5115 | 2 |
Last trade - 16.10pm 15/07/2024 (20 minute delay) ? |
Featured News
A2M (ASX) Chart |
The Watchlist
RCE
RECCE PHARMACEUTICALS LTD
James Graham / Dr Alan Dunton, MD & CEO / Non-Executive Director
James Graham / Dr Alan Dunton
MD & CEO / Non-Executive Director
SPONSORED BY The Market Online