Well.... A great announcement today.... the start of a series of...

Well.... A great announcement today.... the start of a series of news ahead. There was some profit taking in two waves today....which is understandable... interesting to know if that run on 22/07 and 6 mill shares traded...was some of the profit taking today.

We've formed another Doji .... "Interestingly", this morning we've opened before official market time(usually 10.04am AEST). We've opened at 10am instead with a P for a house....at 8.1c - 8.4c then 8.5c..... then at official market alphabetic time order, IVZ opened at 8.8c, went up to 9.4c then churning and profit taking to 8.6c.... and we've closed at 8.8c ...

Volumes today were massive.... last time IVZ achieved similar volumes, I wasn't even invested here...it was on:


I have added in this chart Bollinger Bands(red and green lines and the basis line as blue in the middle. Just to measure this massive shot up in the price and chart...We've blown passed the red upper band but, it does not mean we will have no room to continue the run. I've seen many many instances with similar run like today on BHP where next day we've got a continuation of the run...obeying positive news.

The last indicator at the bottom is a Stoch RSI... I'd rather this form than plain Stochastic. This indicator is mainly used to identify overbought and oversold conditions...

The yellow trend lines(aka channel) is very healthy and it's showing our new trend. .IVZ is out of the down trend now...it's a goner.......we could still a pull back to 7.9c as some argue of a potential Gap left...(yellow square box). On the other hand, using the Heikin Ashi to view noise on the trading, I do not cover or see a GAP... but only a show of strength with high volumes and pretty much the bulk of the volume concentrated at around 8.83c




I guess the question everyone has right now is.... will we continue the run tomorrow?
Since last Monday(22/07) to today, we've gone up +20.54%.
I would like to think that somewhere between Tuesday to Friday, we are going to move in waves here....perhaps due to the 10c capital raising which might have the impact on a up and down movement.

No matter what happens at the opening and middle of the day(churning/trading), as long as we close positive and up, that's what matters right now to sustain this run.
I do believe today's announcement is very powerful and the market will wake up accordingly in the next trading days ahead.... I also see a good old fight to grab more stock... today a classic example....

We are in a TREND UP now folks! What's not to be happy about it? Looking forward to the rest of the week.... 8c is fresh support now... but, it might need to prove itself still..... thinking ahead, we need to re-test 9.4c of today and make 9c a strong support so we can tackle the big number.... 10c.



Daily Candle Chart




Daily Heikin Ashi Chart


GLTA

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