I can't say I particularly agree with this.
Check out the volume. The price has been quite consistently rising for two weeks, and the volume has been decreasing consistently over this whole time. This indicates increasing demand (price going up) and decreasing supply (sellers just aren't there). Once supply is exhausted there should be a breakout. This fits in perfectly with the current chart we're seeing with the triangle forming, which is now right at the convergence point.
From a TA perspective this is extremely bullish. We're also seeing the RSI increasing along with several other technical indicators looking bullish.
To address your comment about the dumping, I've highlighted the decreasing volume on the current daily chart. Again, the clear upwards price trend is evident if we're down a pip or two, and the clear reduction in volume over this time is brilliant to see coinciding with it.
Most folks here would probably agree that the company fundamentals justify a much higher price, and at this stage the Dow Jones futures are indicating a strong 0.7% increase overnight Australia time. Obviously this is not a reliable indicator but it is more positive than negative.
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Last
3.3¢ |
Change
0.000(0.00%) |
Mkt cap ! $83.18M |
Open | High | Low | Value | Volume |
3.3¢ | 3.3¢ | 3.2¢ | $93.14K | 2.823M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
13 | 4272498 | 3.2¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
3.3¢ | 143598 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
12 | 4262498 | 0.032 |
8 | 1607021 | 0.031 |
10 | 727998 | 0.030 |
6 | 1057538 | 0.029 |
2 | 415625 | 0.028 |
Price($) | Vol. | No. |
---|---|---|
0.033 | 50000 | 1 |
0.034 | 530602 | 1 |
0.035 | 500000 | 1 |
0.036 | 600000 | 4 |
0.037 | 422946 | 3 |
Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
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QPM (ASX) Chart |