Old supply areas will often become resistance (or were to begin with) and will require larger volume to move past. Pros don't accumulate at resistance or at highs. They may have been between the lows at 5.9c and 6.4c, but not at 7c.
Low volumes at resistance (accumulation or not) to soak supply is not bullish and will breakdown. Hence the term absorption for breakouts. All in my head anyway...might be completely wrong!
We should get some healthy volume for the day if we close at 6.9c/7c.
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2.1¢ |
Change
0.000(0.00%) |
Mkt cap ! $12.00M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 491617 | 2.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 2.2¢ | 438279 | 5 |
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