Gap theory and believing "gaps always get filled" is up there with healing crystals and homoeopathy, but since this is the TA thread I'll post a pattern with actual scientific evidence:
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2850057
"We find strong evidence in favour of abnormal price movements after price gaps. We observe that during a gap day prices tend to change in the direction of the gap... contrary to the myth that price gaps tend to get filled."
So there is evidence that after a gap up, the price will continue up in the short term - which is pretty obvious anyway. There is zero evidence for gaps having an effect on the share price weeks/months/years after the fact
FMG Technical Analysis, page-11150
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Last
$23.20 |
Change
-0.220(0.94%) |
Mkt cap ! $71.43B | |||
| Open | High | Low | Value | Volume |
| $23.46 | $23.49 | $23.04 | $104.4M | 4.486M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 18833 | $23.19 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $23.20 | 6082 | 1 |
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| Last trade - 16.10pm 14/06/2024 (20 minute delay) ? |
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Last
$23.24 |
Change
-0.220 ( 0.46 %) |
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| Open | High | Low | Volume | ||
| $23.47 | $23.49 | $23.04 | 1188146 | ||
| Last updated 15.59pm 14/06/2024 ? | |||||
| FMG (ASX) Chart |