The best part for long holders was that yes, there’s a lot of stock being sold off but there was a point today (lower bollie) where buyers said, “ you know what, that’s enough”. And they soaked up all the supply raising the SP leaving that long lower wick.
Therefore from a technical standpoint you could easily assume that selling supply might be slimming out. So it is a bullish indication but only one. You’d need to use that indication in combination with others to confirm a shift in momentum. IMO.
Cheers.
PS, you can’t blame anyone for taking profits here and closing positions. It’s probably been in the top 5 best stocks for 2023-24 FY.
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Last
$5.20 |
Change
0.000(0.00%) |
Mkt cap ! $1.620B | |||
| Open | High | Low | Value | Volume |
| $5.24 | $5.46 | $5.09 | $4.451M | 853.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 3192 | $5.18 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $5.20 | 3846 | 1 |
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| Last trade - 16.10pm 04/07/2024 (20 minute delay) ? |
| CU6 (ASX) Chart |