Hi Guys and Girls
I'm a technical trader and I've just stumbled upon this stock at what I believe is a perfect time!
What I'm seeing is a beautiful double bottom with the recent sell off on contracting volume. The October 2016 rally was on expanding volume proceeded by a gap down on the weekly. As we know, most gaps get filled, this stock is no exception. All past gaps appear to be filled, however, this is not a perfect science...
Moving forward, I would like to see 2 strong closes above the recent weekly downtrend, preferably on expanding daily volume. If this happens, I'll do some further analysis mid way through next week and consider entry options and back test it.
KAR Technical analysis
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Last
$1.72 |
Change
0.060(3.61%) |
Mkt cap ! $1.378B | |||
| Open | High | Low | Value | Volume |
| $1.67 | $1.73 | $1.67 | $18.60M | 10.89M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 48682 | $1.72 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.73 | 130076 | 5 |
View Market Depth
| Last trade - 16.10pm 21/06/2024 (20 minute delay) ? |
| KAR (ASX) Chart |