Hi WAG,
Looks like 3 touches of the line confirming trend. Then we see a dip below the line, this is known as the liquidity area as there is a confirmed trend, a lot of investors will put their stop losses just below this line. Dipping below the line would cause liquidations and picking up of a lot of shares.
This all plays into the narrative of someone is accumulating which seems to be well accepted here. The trend line was recovered straight away confirming the liquidity grab, so I would expect a retest of that trend and bounce or just a continuation of an uptrend as I have drawn both.
The uptrend are just a direction and would be affected by the 12th March decision.
Hope this sheds some light onto possible reasons why the SP is acting like it is.
Hi WAG,Looks like 3 touches of the line confirming trend. Then...
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Last
$19.86 |
Change
0.560(2.90%) |
Mkt cap ! $2.538B | |||
| Open | High | Low | Value | Volume |
| $19.80 | $20.00 | $19.40 | $3.777M | 191.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1060 | $19.83 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $19.87 | 209 | 1 |
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| Last trade - 16.10pm 11/07/2024 (20 minute delay) ? |
| NEU (ASX) Chart |