One of the problems that the chartist has to confront in looking at charts is his own bias or prejudices. The AIM chart illustrates this admirably with its trading performance over the past week.
Aim has has risen from its lows @ 20c to now around 24c with local highs stopping at the resistance level 26c. On face of it if we have a bullish bias we look only at the confirming aspects ie sp, gaps, candle formations etc and indicators. To confirm that our bias is not misleading us some charting authorities suggest the price chart be inverted. When you do this with AIM having a bullish bias then oops the sp would be expected to trend 'up' ie in reality down. Not a good time to re enter if I have a bullish bias.
IMO, Aim now needs to break the long term down trend stretching from the high 38c to the recent local highs at 26c for a positive confirmation of upward trend.
bullish or bearish bias
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Last
31.5¢ |
Change
-0.010(3.08%) |
Mkt cap ! $65.77M | |||
| Open | High | Low | Value | Volume |
| 32.5¢ | 32.5¢ | 31.0¢ | $53.08K | 169.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 98391 | 31.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 31.5¢ | 1986 | 1 |
View Market Depth
| Last trade - 16.10pm 29/05/2024 (20 minute delay) ? |
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Last
31.5¢ |
Change
-0.010 ( 0.22 %) |
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| Open | High | Low | Volume | ||
| 31.5¢ | 31.5¢ | 31.0¢ | 38063 | ||
| Last updated 13.44pm 29/05/2024 ? | |||||
| AIM (ASX) Chart |