Man o man that daily is ugly Swanny!
Still could be absorbtion volume but geeeze! Wing & a prayer stuff!
Daily at a glance,
You can see here, volume fell away 23rd January (just after 1/20 along the bottom there). So they ran out of buyers & she came off.
See 1st Feb (just after 1/30) the volume came off a little there on that down leg but it's still average volume so there's still plenty willing to sell. But.... they try to take the SP up again with that big volume 2nd Feb but notice the very next bar on the chart is really narrow spread, closing below the middle on even bigger volume.....
You guessed it... that was them unloading... hence the big volume... selling into every buy order hence the narrow spread.
Notice that the SP doesn't really continue up from there.
Then as we move along sideways... see Feb 13.... low volume after trying to hold / bring it up. Low volume = low interest in those prices. Then.... it comes off pretty hard on really intense volume there on the down move.
Not good!
Could be absolutely swallowing up everything so they can take it higher.... but also could be them throwing their hands in the air because they can't get buyers & gunna let it fall again. We'll see hey..... definately edge of your seat stuff though!
Kind Regards
DmansDad
Man o man that daily is ugly Swanny!Still could be absorbtion...
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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 |