Chart, page-179

Exhaustion, accumulation or distribution?
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Yes WC8 lost 3c to finish at 88.5c. Our volume was comparatively small, just over 8m shares traded. Opened at 91.5, high of 92.5 and a low of 88

So what was happening? Don't know. It looked to me a bit tired, just based on volume. Since we moved from 40s, this was the lowest volume and first time we did below double digit volume. Regarding whether its accumulation or distribution, too early to say. Next few days may provide more info.

The trading today reminded me of Friday. Very narrow trading range, in fact we did the narrowest range today since 40s of just 4.5c and low volume. Friday too we did the same, 11m traded and spread of 8c. That day we lost 2c, today 3c.
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Personally, I had been picking up my trading shares in 70s/80s/90s in last few days as I have been writing, including at 93 yesterday. I did let go fair few of that at 92 today. Firstly I had been over my limit here and very heavy in one stock, so was again feeling from risk perspective. Secondly, low volume was indicative of possible sideways movement, unless an event/announcement or someone big gets hungry. I still hold a lot of shares from 30s/40s which I will continue to hold unless something happens - for me price action is also important.

So what may happen tomorrow? Another indecisive state. What was good about today is that we dropped again on smaller volume and we have been rising on higher volume. So for upward movement that is good. Secondly, 88 looks like a solid support. It would be good to get back and do a retest of $1. Will that happen? Lets hope so. All the best.