You are incorrect. The blue bars do not "only" represent price closing higher as your suggest, it also factors in volume as per criteria popularised by William O'Neil's 'pocket pivots'. Large up bars on high volume tend to represent signs of accumulation, this is quite elementary stuff here
Albeit on the daily timescale the overall volumes haven't been huge but the price action continues to be constructive in an otherwise very weak market which indicates even further strength.
Not bashing you, you've come here and shared your thoughts, so have I
You are incorrect. The blue bars do not "only" represent price...
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Last
48.0¢ |
Change
-0.005(1.03%) |
Mkt cap ! $597.2M | |||
| Open | High | Low | Value | Volume |
| 48.0¢ | 49.8¢ | 48.0¢ | $388.9K | 797.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 12 | 98410 | 47.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 48.0¢ | 25798 | 7 |
View Market Depth
| Last trade - 12.45pm 29/04/2024 (20 minute delay) ? |
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Last
48.0¢ |
Change
-0.005 ( 1.66 %) |
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| Open | High | Low | Volume | ||
| 48.5¢ | 49.5¢ | 48.0¢ | 260962 | ||
| Last updated 12.58pm 29/04/2024 ? | |||||
| WC8 (ASX) Chart |