STM daily appears to have a test bar
Post #: 28905059
"The Textbook perfect description of a VSA Test is - a narrow spread downbar, closing mid to high, on low volume.
The test bar will usually dip lower within the range of the previous bar. The narrow spread is an illustration of reduced volatility, and the lower volume suggests selling pressure is low. This sets the stage for the next bar to close higher.
Tests are roughly neutral when price is in a sideways trading range or accumulation zone, and they work worst, or are least powerful, when price is in a downtrend."
Thanks @Jako8557
The reason I wonder if this is a test is the recent high volumne and the upward trend off the bottom. So now will have to continue watching and wait for confirmation.
Have a good day and any comments welcome.
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Last
4,601.3 |
Change
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| Open | High | Low |
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| XTL (ASX) Chart |