I think they want this kind of detail.
This is a daily chart of LPD
First this you have to remember, all indicators on Ichimoku Kinko Hyo can act as support or resistance. Chart reading isn’t a science it’s an art!!
SP is trading above the cloud or the “Kumo” which indicates a bullish trend. It’s trading well above the Kumo & is very thin which means the SP can easily break through but also indicates a level of potential support that’s well below the current SP.
The SP is being compressed into wedge pattern which could result in either a bullish breakout or crash of the SP.
The last traded candle is called a “shooting star” formation which indicates a change of trend to the downside. It shows the bears took control of the market & drove the SP down. It’s does have a higher high & a higher low indicating a bullish uptrend but turned red as the sellers over powered the buyers in that trading period. This kind of contradictory indicator is evidence of a lot of indecision in the market.
The SP is bouncing around on the Tenkan-sen which is the first level of support. It just happens to be the area of support of the wedge pattern as well. If the SP breaks through this, the next level of support is the Kijun-sen. After that, the next area of support is the 3.6 cent mark where previous upside price rejection was found. The Chikou Span is well above the SP which indicates a bullish trend.
Volume indicator is trending down which shows there is lack of investor interest.
MACD has just completed a bearish cross which is a sell signal. The histogram in the MACD indicator is also trending down which confirms it.
RSI has been well above the 70 mark for sometime but is currently around the 67 mark and trending down. Anything over 70 is considered to be overbought so retracement in the SP can be expected in the short term.
Well that’s a detailed read out of the chart. I could go into it more but no one wants to read a 5 page essay. These are basic indicators and there are a lot more of them that traders use which will give you a more detailed picture of what’s happening.
All in all a lot of mixed indicators, just too much market noise at the moment it could go either way. This isn’t my personal opinion it’s what the chat is saying. Take from it what you want.
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Last
0.3¢ |
Change
0.000(0.00%) |
Mkt cap ! $25.76M |
Open | High | Low | Value | Volume |
0.3¢ | 0.3¢ | 0.3¢ | $4.068K | 1.380M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
71 | 67268446 | 0.2¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
0.3¢ | 80473374 | 45 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
71 | 67268446 | 0.002 |
111 | 253627673 | 0.001 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
---|---|---|
0.003 | 61783359 | 43 |
0.004 | 39522814 | 47 |
0.005 | 15550066 | 17 |
0.006 | 4150999 | 9 |
0.007 | 1089094 | 5 |
Last trade - 16.10pm 01/10/2024 (20 minute delay) ? |
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