I try to apply the basic idea of VSA. On 17 August, the candlestick had a long tail (shadow) which indicated a buying pressure after the sp reached $4.53; the smart money absorbed the supply. And the volume was about 45 millions. That means the supply side lost 45 million that day. And that caused the sp went up to $5.11 closing price on 24 August.
Today the candlestick also has a long shadow! The smart money absorbed the supply. The supply side lost about 78 million shares! So logically from tomorrow demand will overwhelm supply. And that will push the sp up.
That is what I think, anyway.
I try to apply the basic idea of VSA. On 17 August, the...
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Last
$2.74 |
Change
-0.110(3.86%) |
Mkt cap ! $8.249B | |||
| Open | High | Low | Value | Volume |
| $2.80 | $2.80 | $2.66 | $184.4M | 67.82M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 238827 | $2.72 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.74 | 274109 | 7 |
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| Last trade - 16.10pm 15/08/2024 (20 minute delay) ? |
| PLS (ASX) Chart |