CHK chart, page-958

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FlashPoint

6,271 Posts.

2220

11/03/21

21:21

Post #: 51703949
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Originally posted by FlashPoint: ↑

Interesting I saw the potential double top in the chart as well, but in the face of the expected results, I didn’t react to it and then there was the TH in place anyway. So if someone did call the possible DT and sold their holding because of it, I tip my hat to you. However if you called the DT after the SP went down, IMO you’re simply a hindsight chartist.
Be that as it may, I don’t believe the chart reacted like it would after a run of the mill DT. There were other reasons for the violent reaction and IMHO it can’t be based on just the results announced either. IMO someone took the opportunity to swing their weight around dumping shares for a different reason, but possibly a substantial shareholder notice could put the spotlight onto that soonish to confirm what I just alluded to.
Anyway seeing that this is the charting thread I am a little surprised that there are very few posts trying to look into what the chart is could tell us and where things go from here. In any event there is a huge gap looking at us and usually punters alert to the fact that gaps in most cases need to be filled. Shouldn’t that apply in this case too? Today there was a candlestick formed, which had relatively low spread, but huge volume. Who absorbed all that supply of shares, because IMCO someone was holding the bag wide open and accumulated a lot of the supply? I can assure you, it wasn’t just me.
Anyway in the end and in combination with yesterday’s CS a bullish “Homing Pigeon” CS pattern formed, which does need confirmation tomorrow, but the equal closing price is giving us a hint to what might happen tomorrow.
Personally I only was holding a relatively small speculative position before the drop, but now it has taken on a more important position within my portfolio and I’m happy to build on it should my chart information confirm.

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Here is the chart to the above interpretation showing the gap and the CS pattern!

CHK Price at posting: 1.7¢ Sentiment: Buy Disclosure: Held
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(20min delay)
Last 0.4¢		Change 0.000(0.00%)		Mkt cap ! $17.18M

Open	High	Low	Value	Volume
0.4¢	0.4¢	0.4¢	$1.8K	450K

Buyers (Bids)

No.	Vol.	Price($)
12	20651675	0.3¢

Sellers (Offers)

Price($)	Vol.	No.
0.4¢	1611551	3

View Market Depth

No.	Vol.	Price($)
12	20651675	0.003
8	12362871	0.002
15	25299890	0.001
0	0	0.000
0	0	0.000

Price($)	Vol.	No.
0.004	1611551	3
0.005	15939601	20
0.006	7663752	13
0.007	1250000	5
0.008	453545	1

Last trade - 15.03pm 06/09/2024 (20 minute delay)

ALR (ASX) Chart

CHK chart, page-958

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CHK chart, page-958

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