support and resistance. That bowl of the rou nding bottom is defined by it. Even at the lowest level. OBJ is an example I’ve had an eye on for quite some time. It recently dropped off a bit more but before the dip there is a flat zone of trading. That’s what I look for. To me that’s silent accumulation by sophisticated investors who understand the fundamentals and their buying makes a floor price under the share that makes the formation of the bowl. By the time the bowl begins to round it you’ve got retail investors coming in bringing the liquidity and because they’re less concerned about their overall buy price the stock gets a bit choppy. That’s what forms the other edge of the bowl. Increasing volume on any spikes during the round out/bowl phase is also a really good one. I think CTM is another example of this.
- Forums
- ASX - Short Term Trading
- Short Term Trading Week Starting: 14 Oct
Short Term Trading Week Starting: 14 Oct, page-99
-
- There are more pages in this discussion • 5 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Featured News
The Watchlist
LU7
LITHIUM UNIVERSE LIMITED
Alex Hanly, CEO
Alex Hanly
CEO
Previous Video
Next Video
SPONSORED BY The Market Online