The price action appears to be on a very slight down trend, but the MACD (the orange and blue line) is on an uptrend - this signals a bullish divergence. In other words, the price action 'appears' to be telling traders that the price is 'going down', but the underlying statistical analysis is telling them that someone is buying on the sly and buying/prices momentum are on the rise.
This usually indicates an overall price rise in the near future.
Dont take my word for it though - you could ask 100 traders for their opinion on this chart and get 100 differing answers/interpretations.
Technical Analysis (TA) is part science and art, with more art than science. But it usefull nevertheless.
I have made some very successfull trades (medium term trades) using TA.
The price action appears to be on a very slight down trend, but...
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Last
4.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $25.31M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 100000 | 4.3¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 5.0¢ | 45000 | 1 |
View Market Depth
| Last trade - 16.12pm 16/08/2024 (20 minute delay) ? |
| VR8 (ASX) Chart |
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