Over the last 2 weeks, the news on CVN has attracted a lot of traders - both long and short.
And they use charting principles to guide them in their trading - to buy or sell.
For example, when the charts interpret the stock price have run too far, its a signal for traders to sell - like what happened yesterday.
That is a signal for shorters to attack the stock, until it falls back to the gap (another charting principle). Then, they close their positions, resulting in a short squeeze (when a lot of them try to get out), which causes the SP to rise again.
And that becomes a signal for other traders to buy.
A self fulfilling prophecy, if you like.
Does not always happen, but does where traders using charting principles overwhelm fundamental principles.
Just my humble opinion.
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Last
19.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $348.8M |
Open | High | Low | Value | Volume |
20.0¢ | 20.0¢ | 19.5¢ | $11.4K | 57.39K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
28 | 2012383 | 19.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
20.0¢ | 498084 | 16 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
28 | 2012383 | 0.195 |
23 | 1405541 | 0.190 |
18 | 2339455 | 0.185 |
10 | 838172 | 0.180 |
10 | 450522 | 0.175 |
Price($) | Vol. | No. |
---|---|---|
0.200 | 497901 | 15 |
0.205 | 773721 | 15 |
0.210 | 718036 | 18 |
0.215 | 293234 | 12 |
0.220 | 1196905 | 22 |
Last trade - 10.36am 15/07/2024 (20 minute delay) ? |
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