Gonna be an interesting day tomorrow.
IF what we saw today was a bit of covering and some bullish behaviour which by all accounts it does look like then tomorrow ideally they may gap up and take a run at the 89c resistance line.
If this is the case we will expect a decent upspread backed by some volume increase (but not too much to rule out supply) This would back up todays action rather well and confirm we are in for a bit of a bullish turn.
On the other hand if this was a bit of a pump before sell -on-news then tomorrow will be a smaller up spread on high volume as they distribute to the punters or they may even force it down slightly again with some volume..
I personally think that yesterdays small spread down on reducing volume was bullish as was the action Friday so I'll pick case A and hopefully be on the money.
But given the LYC cheer squad of short sellers whom love to sell on news please don't be too bummed out if I am wrong ;)
Sorry no time to chart..got to cook dinner for the family.
Take care.
hanging by the bloody fingernails, page-17
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Open | High | Low | Value | Volume |
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No. | Vol. | Price($) |
---|---|---|
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32 | 32815 | 6.250 |
21 | 63861 | 6.240 |
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10 | 36628 | 6.220 |
Price($) | Vol. | No. |
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6.290 | 46023 | 22 |
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