In hindsight, it only makes sense (to me at least) if the one who pushed the sp to $3.65 is the same person who pushed it back down to $3.54 and then bought almost 5 million shares at $3.56.
The end result of that price action is the circumstantial evidence. The end result of that price action is an inverted hammer candlestick. The inverted hammer candlestick, which is a bullish reversal candle in a downtrend, stands as the circumstantial evidence because it shows clearly the direction of the sp that that person wants to take. The direction is upward.
He must have accumulated a lot of shares and he needs to take some profit. So he did that manuever to produce that inverted hammer candlestick to indicate there is a buying pressure simmering. He purposely provide the bullish indication because that creates a bullish sentiment, which is necessary for him to take profit.
Anyway, let's wait and see what happen tomorrow. And we can see whether what I said is just a fantasy or has some truth in it.
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Last
$2.58 |
Change
0.000(0.00%) |
Mkt cap ! $7.769B |
Open | High | Low | Value | Volume |
$2.61 | $2.65 | $2.49 | $78.76M | 30.75M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
4 | 15582 | $2.57 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$2.58 | 36624 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
4 | 15582 | 2.570 |
6 | 32059 | 2.560 |
12 | 69369 | 2.550 |
4 | 456271 | 2.540 |
3 | 196766 | 2.530 |
Price($) | Vol. | No. |
---|---|---|
2.580 | 36624 | 2 |
2.590 | 450471 | 11 |
2.600 | 216773 | 7 |
2.610 | 13588 | 2 |
2.620 | 18000 | 2 |
Last trade - 16.10pm 05/09/2024 (20 minute delay) ? |
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PLS (ASX) Chart |