GXY 0.00% $5.28 galaxy resources limited

Chart, page-297

  1. 681 Posts.
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    lol It can squeeze its way into the history books if it can find a free page. This happens quite alot in ASX200 companies. Infact there are lots of games getting played all over the place all of the time.

    IMO....Although today was quite filthy looking....... from a TA perspective volume increased almost 2 fold compared with yesterday whereas spread narrowed slightly which suggests that the selling was absorbed somewhat (at least for now). So although there was some pretty heavy selling (there were quite a few large offscreen dumps into the buy stack) there was also plenty of buyers willing to absorb all of that volume. If not, on twice the volume youd expect twice the spread of yesterday. On my chart you can see that usually on similar spread (circled) the volume is less than yesterday so that is also very supportive of the theory. Price is very close to the LT support around $1.50 zone so we'd expect some support to come in here. Sorry if ive over stated all of that. Mainly incase some non TA guys reading it. Tomorrow will be telling.......it pretty much needs to put in a reversal bar. A lower low wouldn't be so bad but it has to close higher and (preferably) on a lot less volume than today.

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    Last edited by FreeYourself: 15/06/17
 
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Currently unlisted public company.

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