I'm not sure if we're at cross purposes so let me explain myself. I agree with you both in that a chart where the overwhelming majority of trading days have no range (open/high/low/close are all the same), that open gaps everywhere on light trading (often only a single trade on any given day), make those gaps technically insignificant. So whilst I would agree with you that the gaps open until 06/10/17 had very little if any technical significance I think that subsequent gaps have taken on technical significance. This is due to the increased frequency of trading days and as a result the increased liquidity of options trade generally.
If you look at the simple chart below:
So you can see on the chart I have highlighted the open gaps with green boxes. You can also see that the majority of trading days and particularly most in October have range.
From left to right the first two boxes represent the same gap and do not worry me. The third box is also not a gap of concern.
The fourth box represents the gap that I talked about and the one that I don't think will close. It also has decent volume either side of it with 1.325m traded on 06/10 and 1.782m traded on 09/10. This gap also appears to have a very strong relationship to the open gap on the HEG chart between 0.087 and 0.093. If that gap closes on the HEG chart then it is extremely likely that the gap represented on HEGOC by the fourth box will also close.
The gap represented by the fifth box will, close with subsequent trade, remain open if options were next to trade at 0.057 and above or could also remain open under other future trading scenarios.
I understand that different people often interpret technical analysis differently however I don't think that what I'm saying is particularly controversial. I have treated the fourth gap as technically significant and it (along with the HEG chart) has informed my entry here. In my mind both charts have their own importance.
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I'm not sure if we're at cross purposes so let me explain...
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Last
0.2¢ |
Change
-0.001(33.3%) |
Mkt cap ! $2.083M |
Open | High | Low | Value | Volume |
0.2¢ | 0.3¢ | 0.2¢ | $5.052K | 1.711M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
19 | 16523260 | 0.2¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
0.4¢ | 5990954 | 15 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
19 | 16523260 | 0.002 |
21 | 58095497 | 0.001 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
---|---|---|
0.004 | 5990954 | 15 |
0.005 | 8201334 | 7 |
0.006 | 1938720 | 5 |
0.008 | 1500000 | 2 |
0.011 | 1500000 | 1 |
Last trade - 12.27pm 07/05/2024 (20 minute delay) ? |
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HARANGA RESOURCES LIMITED.
Peter Batten, MD
Peter Batten
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