Aussiestorm,
agreed.
There has been distribution [i.e. selling] by the smart money when the share price was increasing. As can be observed with the last trading days, volumes are now decreasing. The spread [i.e. range] is also narrow and today it closed at its low.
The key is to look at the volumes and the background information. If there was demand for the stock by the professional money, the volumes would be high and it would close in the high or middle. I would be now looking to a gotcha bar or a no demand bar as indicated on my previous post. That is, a high volume - large spread, downbar and closing on the low.
The smart money will show their hand soon. I think they will buy back in at the bottom once again. If i were to look for a trade, i would buy at $1.20 or lower. I would also purchase on red and high volume days. But that's just my opinion.
daily report, page-19
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Last
$10.16 |
Change
-0.040(0.39%) |
Mkt cap ! $3.038B | |||
| Open | High | Low | Value | Volume |
| $10.00 | $10.24 | $9.96 | $17.95M | 1.771M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 5383 | $10.16 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $10.19 | 1000 | 1 |
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| Last trade - 16.10pm 01/11/2024 (20 minute delay) ? |
| PDN (ASX) Chart |