Until we see buyers on par with or greater than sellers there is...

Until we see buyers on par with or greater than sellers there is no point taking a position I feel. There is literally a wall of sellers, almost 3 times the buyers depth. With that run up to 1.80 a few weeks back, you did see see buyers coming in before the run up over a few sessions. Hard to know how much of a bad quarterly is built into this price. But I tend to think it is end of FY selling and just really poor market sentiment, the PLS update really was the catalyst that broke support. Have a look at every technical analysis indicator on this site (the more button under the sell / buy section) Pretty much every indicator is a strong sell. Not trying to be a downer I still have some of these from the 1.60 / 1.70s. I am wanting to get another parcel but might be best to wait until the qrtly is out of the way. The good news is that if we keep losing 2c a day we should be at zero in under 3 months : O Have to feel we are closer to the bottom than any near term top.

https://www.tradingview.com/chart/?symbol=ASX%3Agxy