There are bots buying today (as opposed to selling) which is positive in my book. That means we have an insto that has a robot tool looking to accumulate without the impacting the market price.
I know I've stated in the past that I don't think DNK is liquid enough for technical analysis but I can't help but notice the 'descending pennant' that is forming. We have a support line at 29-29.5c and a descending resistance line that looks like it could meet support some time in the next fortnight. If the formation proves itself, the upside is 42c. A close above 30c with an increase in volume should prove it up.
That got me thinking that maybe that's why we're seeing bot activity. It also got me thinking that should that 470k at 30c get taken out, then that could be the volume required to confirm the formation and attract traders.
I have no idea how to add an image so if anyone can tell me, I'll put up something.
- Forums
- ASX - By Stock
- News: Australian company seeks potash mining licence in Eritrea
There are bots buying today (as opposed to selling) which is...
-
-
- There are more pages in this discussion • 2 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add DNK (ASX) to my watchlist
(20min delay)
|
|||||
Last
31.7¢ |
Change
0.000(0.00%) |
Mkt cap ! $151.0M |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Featured News
DNK (ASX) Chart |
Day chart unavailable