Correct, it's just a visible level of supply vs demand where supply currently exceeds demand.
A break through of the level with volume is an indication of a change of that balance. This can occur through an event or just supply eventually drying up where a break of a dam wall effect occurs.
From there we could see a gradual climb or a new resistance / support level form.
JXT Chart, page-137
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Last
9.8¢ |
Change
-0.017(14.8%) |
Mkt cap ! $94.04M | |||
| Open | High | Low | Value | Volume |
| 10.0¢ | 10.5¢ | 9.8¢ | $100.5K | 1.005M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 100198 | 9.8¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 10.5¢ | 51000 | 2 |
View Market Depth
| Last trade - 16.10pm 26/06/2024 (20 minute delay) ? |
| VNL (ASX) Chart |