I noticed no one answered.
I am not sure u are being flippant.
If hypothetically there is high volume on a stock and the price rises to reach $1.
Then for what ever reason, the stock falls to $0.85.
There are people left holding the bag. They can sell out and take a loss or hang on.
Then when the price gets back to the $1 mark, fear sets in and people think 'phew i have made my money back, i dont want to lose again' so they sell at evens.
Thus, the previous high becomes the resistance.
Stu
I noticed no one answered. I am not sure u are being flippant....
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Last
$4.18 |
Change
0.120(2.96%) |
Mkt cap ! $12.58B | |||
| Open | High | Low | Value | Volume |
| $4.13 | $4.20 | $4.11 | $86.61M | 20.81M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 11 | 1408666 | $4.18 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $4.19 | 165878 | 22 |
View Market Depth
| Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
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Last
$4.18 |
Change
0.120 ( 3.20 %) |
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| Open | High | Low | Volume | ||
| $4.12 | $4.20 | $4.12 | 4580071 | ||
| Last updated 15.59pm 03/05/2024 ? | |||||
| PLS (ASX) Chart |