Last week's price action witnessed a bearish engulfing candle on Tuesday, a dragonfly doji on Wednesday, and a spinning top on Friday, all to close the week at $6.99:
Ever since Tuesday's results, the hourly chart has shown a pattern of:
(1) Openings at a daily high (usually a gap up from the previous day's close)
(2) Price declines in the morning, and
(3) Support or slight rises in the afternoon.
This can be seen by looking at the callout boxes - a different colour for each day:
An astute day trader could have bought at the opening price each day, short the stock, and sell every afternoon. Lather, rinse, and repeat.
Last week's price action witnessed a bearish engulfing candle on...
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Last
$4.17 |
Change
0.000(0.00%) |
Mkt cap ! $420.4M | |||
| Open | High | Low | Value | Volume |
| $4.21 | $4.24 | $4.12 | $3.020M | 723.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 5621 | $4.16 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $4.18 | 4400 | 3 |
View Market Depth
| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| KGN (ASX) Chart |