Apart from common daily gaps, which are typically filled quickly due to their nature of being part of the normal trading volatility, other types of gaps like breakaway and continuation gaps often remain unfilled for a significant period, if at all.
Here’s why:
1) Breakaway Gaps signal the start of a new trend away from a consolidation area. They are created by a surge in trading activity and a shift in market sentiment, leading to a new price direction. Since this gap marks the beginning of a new trend, the price doesn't usually return to fill the gap, as market participants are now aligning their expectations with the new trend direction.
2) Continuation (or Runaway) Gaps occur in the midst of a prevailing trend and signify its continuation. They represent a renewed interest and momentum in the direction of the current trend, often spurred by new information or market dynamics that reinforce the ongoing trend. Because these gaps are a part of the trend's momentum, the market typically continues to move in the direction of the gap, leaving it unfilled.
The key reason those gaps don’t get filled lies in market psychology and momentum. When a gap occurs, it often represents a strong consensus among market participants about the value of an asset being markedly different than previously thought. This revaluation is not easily reversed, as it typically requires a significant counterforce or new information to shift market sentiment again. Moreover, gaps act as psychological markers for traders, establishing new areas of support and resistance. Once these levels are set, traders adjust their strategies around them, further solidifying the gap's place in the market's structure.
So those gaps are a result of new trend on PER since price reversal from 5+c. Hard to change once the new trend is formed as they are fundamental. Up and you go PER! Cheers
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Last
7.7¢ |
Change
0.000(0.00%) |
Mkt cap ! $69.41M |
Open | High | Low | Value | Volume |
7.7¢ | 7.9¢ | 7.6¢ | $148.9K | 1.895M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 48919 | 7.7¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
7.9¢ | 70000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 48919 | 0.077 |
2 | 116967 | 0.075 |
1 | 200000 | 0.072 |
1 | 20000 | 0.071 |
5 | 495142 | 0.070 |
Price($) | Vol. | No. |
---|---|---|
0.080 | 11000 | 1 |
0.081 | 120000 | 1 |
0.083 | 206000 | 2 |
0.085 | 250000 | 2 |
0.087 | 25001 | 1 |
Last trade - 15.59pm 03/05/2024 (20 minute delay) ? |
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Last
7.8¢ |
  |
Change
0.000 ( 2.63 %) |
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Open | High | Low | Volume | ||
7.7¢ | 7.9¢ | 7.7¢ | 43057 | ||
Last updated 13.04pm 03/05/2024 ? |
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PER (ASX) Chart |