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
43.0¢ |
Change
0.010(2.38%) |
Mkt cap ! $518.8M | |||
| Open | High | Low | Value | Volume |
| 42.5¢ | 45.5¢ | 42.5¢ | $1.429M | 3.264M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 43947 | 43.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 44.0¢ | 23029 | 1 |
View Market Depth
| Last trade - 16.10pm 31/05/2024 (20 minute delay) ? |
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Last
43.0¢ |
Change
0.010 ( 0.23 %) |
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| Open | High | Low | Volume | ||
| 42.5¢ | 45.5¢ | 42.5¢ | 1378456 | ||
| Last updated 15.59pm 31/05/2024 ? | |||||
| WC8 (ASX) Chart |