RMS 3.01% $1.94 ramelius resources limited

interesting, page-11

  1. 882 Posts.
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    Although an ugly down day there are some indications buyers may be trying to gain the upper hand although sellers are persisting in keeping the price down.

    Not quite a classic hammer finish but possibly a bullish reversal pattern is forming after a decline. "In addition to a potential trend reversal, hammers can mark bottoms or support levels. After a decline, hammers signal a bullish revival. The low of the long lower shadow implies that sellers drove prices lower during the session. However, the stronger finish indicates that buyers regained some footing to end the session on a stronger note. While this may seem enough to act on, hammers require further bullish confirmation. The low of the hammer shows that plenty of sellers remain. Further buying pressure, and preferably on expanding volume, is needed before acting. Such confirmation could come from a gap up or long white candlestick. Hammers are similar to selling climaxes, and heavy volume can serve to reinforce the validity of the reversal."

    The chaikins volatility index is heading towards accumulation and the stochastics are in the oversold zone. The sp is bouncing along the lower macd and it often bounces from this area. Did I notice also the bot seemed to be trying to buy into a higher price.

    I post this only to comfort/reassure myself and others may see a completely different picture.
 
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