The Inverted Umbrella CS indicates that buyers dominated trading and they were able to drive prices higher during the week. However, sellers resurfaced by the end of the week and pushed prices back to the opening price level and to the week’s low.
The Inverted Umbrella has the potential to point out evidence for buying pressure and indicate a potential bullish reversal if it is seen at a support level => $1. Bullish confirmation is required on the next trading day!
Here with a bit of optimism bias (management think that they have the skills and know-how to make it so) is how the above CS fits into the weekly chart ...
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Last
$1.23 |
Change
0.000(0.00%) |
Mkt cap ! $2.970B | |||
| Open | High | Low | Value | Volume |
| $1.25 | $1.26 | $1.22 | $7.836M | 6.333M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 39539 | $1.23 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.23 | 12600 | 3 |
View Market Depth
| Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
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Last
$1.23 |
Change
0.000 ( 0.04 %) |
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| Open | High | Low | Volume | ||
| $1.25 | $1.26 | $1.22 | 2016924 | ||
| Last updated 15.59pm 03/05/2024 ? | |||||
| LTR (ASX) Chart |