Hey Boss,
I've been looking (learning) into the price volume resistance stuff you and GF were saying and yes you are correct. Major price resistance at $3+. Given It has recently hit $3 twice in a wee and currently back at $2.91 and seems likely to test $2.78-80 again a which point it could bounce up, but recent history suggests that it might go further down till it reaches its real support. A sensible trader may wish to sell at these points, and buy back in at the support and swing it again. I accept all that, I'm just hanging around at this price level because i want to test a potential scenario that may playout (however unlikely it might be). So im like only a 20% in the green right, and happy expend some of that to "take a punt" on that potential scenario. Given i have taken on board the popular T.A put forward by you and @goodfella, the risk/reward scenario, would my decision be considered within the "scope" of trading OR am I being delusional, wreck less, grandiose? Just looking for some genuine feedback so have at it.
Below is a 1 hour chart, and yes the volume is definitely not on my side, but if volume was not an issue would this chart ordinarily suggest that EML is at a "Make or Break" juncture. This is not a EML specific question, but more if i am reading the chart correctly. Thanking you both in advance
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Last
$2.70 |
Change
0.150(5.88%) |
Mkt cap ! $3.525B |
Open | High | Low | Value | Volume |
$2.57 | $2.75 | $2.57 | $25.99M | 9.657M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
11 | 167010 | $2.69 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$2.70 | 89135 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
10 | 159010 | 2.690 |
9 | 98060 | 2.680 |
11 | 305274 | 2.670 |
7 | 117916 | 2.660 |
19 | 201097 | 2.650 |
Price($) | Vol. | No. |
---|---|---|
2.700 | 89135 | 2 |
2.710 | 76660 | 6 |
2.720 | 97756 | 8 |
2.730 | 270955 | 6 |
2.740 | 205614 | 11 |
Last trade - 16.10pm 07/10/2024 (20 minute delay) ? |
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