Australia's largest stock trading and investment forum Australia's #1 stock forum

IHL

Click for more information

0.00%

4.1¢ incannex healthcare limited

Great weekly close!

First 16658 Last

Share
Profile

Follow
Breakingsystem

386 Posts.

137

18/08/23

16:05

Post #: 69422794
Share

Great weekly close!

Originally posted by Breakingsystem: ↑

Last weekly candle was a Spinning top...

"What a spinning top indicator can tell you: The spinning top pattern signals indecision among the bulls and bears.
It is important to note that this pattern is much stronger in a trending market, be it uptrend or downtrend. When it takes place in a choppy market, it can be seen as another signal that there is no clarity in the price action
.In a strong uptrend or downtrend, the spinning top shows there is a new balance of forces in the price action.

Unlike the previous sessions, where one side dominated the market and pushed the price action in its desired direction, a spinning top signals that the opposite side of the market is now growing in the game, and the short-term outcome is uncertain.As with almost all candlestick patterns, the role of the next candle is important.In case of a reversal, the candle next to the spinning top should be opposite of the prevailing trend, while for continuation patterns, you look for a candle that goes in the same direction to confirm that the price action is continuing in the same direction."

SO FAR we have a nice beautiful strong green candle on the weekly, be great to have it continuing in this direction until it closes on Friday.
GLAH

Expand

IHL Price at posting: 9.6¢ Sentiment: Buy Disclosure: Held
4 Upvote

0 Great analysis

Reply

Top Stories

AAI

NYSE-listed Alcoa Corp joins ASX through key JV acquisition

Drilling at Lady Ilse suggests gold-copper porphyry, grows footprint for Magmatic

HXL

Hexima shares rise 66% on proposed acquisition of AI player Real Thing Entertainment

OPL

Opyl forms JV with UK and US consortium to bring products to the world

Acquisitions roundup: European Lithium, Diatreme Resources and SRJ Technologies

There are more pages in this discussion • 3,356 more messages in this thread...

First 16658 Last

Add IHL (ASX) to my watchlist

SPONSORED BY