Well well well!
I was right again!
5.37 got hit then the same old expected short selloff false start pattern today.
Ive been warning you bullish guys on here for months of this.
5.37 the prior interim high of 24 May got smashed down
Worse still, todays candlestick chart looks terrible - 1c tail, 15c shooting star red wick, 2c body.
This is effectively a red shooting star candle meaning a top was met with large selling down intraday backwardation.
The Insto shorters had a field day today selling to the retailers who sit holding the babies at 5.37 while they sit on profits by shorting by my estimate (sell at 5.37 buy at 5.25) of 12c x 10M shares = $120k in a few hours = pros!
On the yearly chart it now loosk like a plateau top at resistance with shooting star, this formation norm,ally means a sell down to 4.70-5.00 maybe open or is targeted by these shorters yet again.
10M x (sell at 5.26 buy at 5.00) = $260k profit in a few days...sound like a good weeks work? YOU BET!
SO as I said since the tops at 7.00, stay out till the bear trend is finished, wait till August.
Better to buy on the way up 6.00-7.00 than on a false rise in a bear trend 4.70-5.37-4.70.
Any bets on another shorting attack tmrw so these young punks can get another $100k from you retailers tmrw?
FMG Technical Analysis, page-22
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Last
$25.66 |
Change
0.090(0.35%) |
Mkt cap ! $79.00B | |||
| Open | High | Low | Value | Volume |
| $25.72 | $25.86 | $25.63 | $77.37M | 3.012M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 11417 | $25.65 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $25.70 | 2000 | 1 |
View Market Depth
| Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
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Last
$25.72 |
Change
0.090 ( 0.55 %) |
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| Open | High | Low | Volume | ||
| $25.72 | $25.86 | $25.64 | 785342 | ||
| Last updated 15.59pm 03/05/2024 ? | |||||
| FMG (ASX) Chart |