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HouseMD

233 Posts.

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23/12/20

16:02

Post #: 49784596
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Originally posted by HouseMD: ↑

1) Bollinger bands squeeze currently happening right now. Bollinger band pattern almost identical to the one that formed from Dec 3 to Dec 8, around Dec 8 there was a breakaway candle that broke through upper Bollinger band and initiated run to 17c new high. Looks like a very similar set-up happening, though with much less volume then the Dec 8 setup. Looks like a more stable run this time which will take much longer but hopefully could create a higher high greater than 17c. A higher low has already been created at 12.5c, if in a few weeks time we have a higher high greater than 17c, then that will be a great long term uptrend confirmation heading past 20c.

2) Inverted hammer candlestick quite evident for anyone to see. Another indicator of a trend reversal.

3) Multiple tests of the lower Bollinger band, failed to break past due to too much buying interest at that price level as well as a lack of selling
pressure. Another confirmation of a trend reversal. As seen again, multiple inverted hammer candlesticks evident.

So overally, multiple indications of a trend reversal, bottom has been hit and bounce off has also already occurred, looks like the setup is locked and loaded for the next breakaway. Which is being delayed due to a lack of bulls in the overall ASX, but that will change soon enough and bulls will be back very soon to provide the volume to get us testing the old high of 17c again, whether we will fail to hold 17c or break past 17c to make 17c the new support, remains to be seen.

Expand

And just like that from zero buying interest at 13c to a 5 million buyers queue at 13c. TA not that effective in the long term, but very effective in the short term, gives you the signals to stay one step ahead. Things are looking really exciting heading into 2021. That chart is looking so bullish, can't wait for January.

IBX Price at posting: 13.5¢ Sentiment: Buy Disclosure: Held
32 Upvote

2 Great analysis

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(20min delay)
Last 4.0¢		Change 0.000(0.00%)		Mkt cap ! $1.425M

Open	High	Low	Value	Volume
4.0¢	4.0¢	3.6¢	$27.63K	750.1K

Buyers (Bids)

No.	Vol.	Price($)
2	63865	3.7¢

Sellers (Offers)

Price($)	Vol.	No.
4.0¢	25000	1

View Market Depth

No.	Vol.	Price($)
2	63865	0.037
1	28571	0.035
1	20000	0.034
2	48750	0.033
1	92000	0.032

Price($)	Vol.	No.
0.046	90637	1
0.047	14800	1
0.048	13016	2
0.050	105885	2
0.055	88714	1

Last trade - 13.05pm 04/10/2024 (20 minute delay)

IBX (ASX) Chart

Charting, page-1267

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