A quick squizz at the chart there Swanny,
The last 30mins yesterday makes me nervous!
12min chart shows Ultrahigh volume up move that tapered off in both volume & spread.
This to me says they ran out out buyers (support) hence the falling volume & they were eagerly selling as much as they could into it hence the narrowing spread.
That's just my take at a glance.
We're getting very close to that resistance at the 5.31 / 5.33 area so unfortunately it kinda fits to see weakness as we approach that price range. After all that's what resistance is... weakness.
Naturally i could be wrong. This could be absorbtion volume buying up all that resistance (supply) but we need to see how the SP reacts to action eysterday to be able to make a decision re-absorbtion volume. It's not out of the question but honestly.... something doesn't seem right to me. Too much volume in a parculiar part of the day with very limited results.
It's like they got the pigs to the trough & then started slaughtering them. The pigs didn't make it any further.
We'll see what happens hey....
I haven't looked at the daily yet.
Kind Regards
DmansDad
for my fellow chartists dmans et el., page-4
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Last
$1.84 |
Change
0.100(5.75%) |
Mkt cap ! $1.474B | |||
| Open | High | Low | Value | Volume |
| $1.79 | $1.85 | $1.78 | $10.19M | 5.568M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 40861 | $1.84 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.85 | 25012 | 5 |
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| Last trade - 16.10pm 26/07/2024 (20 minute delay) ? |
| KAR (ASX) Chart |