CU6 1.19% $2.56 clarity pharmaceuticals ltd

Charts form purely due to supply and demand, no bots are trying...

  1. 22,428 Posts.
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    Charts form purely due to supply and demand, no bots are trying to shape a chart to "help" us plebs. Charts the the effect, not the cause. The same patterns have formed in stocks for more than 100 years because the same laws of supply and demand drive them today as they did 100 years ago.

    Stocks move from base to base with a trend in the middle, those weeks of continued upward momentum were the trend, the past 5, or arguably 9 weeks were the base and now it's trying to get out of that base and start a new trend. There's nothing unusual about the past few weeks other than how little it corrected during the basing period = unusually strong stock which we knew well from the preceding trend. "Erratic" price action occurs on the left side of a base as it first pulls back, the price action should decrease in volatility as it moves from left to right through the base, volume should also decrease(i posted an hourly chart of this base that showed beautifully how the volatility and volume were both contracting from left to right). Shakeouts are also a perfectly normal part of the base(that recent day under the 20d ema), indeed bases are better when they have shakeouts in them because they take out weak hands and those weak hands will then have to pay up to get back in.

    Today's action was also entirely normal, study enough charts and you'll see this.

    Minervini wrote 2 great books for understanding the basics of real TA, i.e understanding price and volume. There's also some great US traders on Twitter who you can learn a lot from, who explain how prices trade with respect to the moving averages
    Last edited by Hingdog: 21/03/24
 
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Last
$2.56
Change
0.030(1.19%)
Mkt cap ! $783.2M
Open High Low Value Volume
$2.54 $2.58 $2.53 $1.303M 511.7K

Buyers (Bids)

No. Vol. Price($)
2 431 $2.56
 

Sellers (Offers)

Price($) Vol. No.
$2.57 1556 1
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Last trade - 16.10pm 29/04/2024 (20 minute delay) ?
Last
$2.56
  Change
0.030 ( 0.84 %)
Open High Low Volume
$2.54 $2.57 $2.53 46017
Last updated 15.59pm 29/04/2024 ?
CU6 (ASX) Chart
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