There’s got to be a pause and a pull back at some point.
From a chart point of view this is a zone where that could happen- I’m not saying it will and I’m not selling regardless.
Purely my speculation— The price action makes you wonder if a sophisticated whale(or two) has been taking a position. You would think they would prefer not to drive the price up too far and create a fomo situation. At some point they would use their sophisticated leverage to put temporary downward pressure on the price. It makes sense to do that when an upper trend line or indicator is reached which is naturally when chart sells are triggered.
If they can create some downward momentum they can then buy into that rather than always chasing the stock higher.
Having said that, the demand may be too great here for even a whale to manipulate for long.
just fun speculation
Lets see.
There’s got to be a pause and a pull back at some point.From a...
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Last
$6.46 |
Change
0.090(1.41%) |
Mkt cap ! $2.013B | |||
| Open | High | Low | Value | Volume |
| $6.40 | $6.50 | $6.13 | $10.02M | 1.580M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 3329 | $6.43 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $6.50 | 45351 | 7 |
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| Last trade - 16.10pm 24/07/2024 (20 minute delay) ? |
| CU6 (ASX) Chart |