Hi calling for a Caketin chart. I think that I am interested as to why this sideways movement with volume is negative. I have been looking at the buying , because I am hopeful of getting a few at a lower price point. That has not happened and it seems to be that the sellers are not or do not have the volume that would push it down.
To me it looks like an accumulator is continuing to just soak up volume but it drying up slowly and they have to be patient to keep a lid on it. Its a long game with the accumulator probably averaging around 50,000 to 60,000 each day. which is not bad if its around 600,000 over two weeks and the price has not been driven up too much.
The difficulty is that there are no big sell orders left on the screen.
So maybe my idea of it drifting down in May June to a good time for cherry picking may well be very unlikely.
I am not sure if I want to buy at this price but think that maybe its the only price that is going to be filled.
any wisdom from the charts?
PGC Price at posting:
52.0¢ Sentiment: None Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)