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WhatsupwithBas

1,758 Posts.

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19/10/23

09:42

Post #: 70420556
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Originally posted by boiledpeas: ↑

I'm seeing some positive price movement from SPQ at the moment.
Strong break of trendline, (highest buy volume day in exactly 2 months). Divergence shows its strength in spotting fast momentum moves before they happen. (Divergences are marked)

Re-test of the depicted trend line (and filling of the created gap from the break above the trendline) is a healthy indication of a trend continuation, assuming this is a higher low within the future trend.

I hate trying to pick bottoms with SPQ, (which partially led to my stop-loss exit, half what I'm quite regretful of, but must not let emotion get the jump over my trading.) But over the last 3~ weeks, price action has behaved in a rather "reversitory" (I made that word up) manner, indications of such include the price action divergences visible with my markings. These depict a change in momentum, as the RSI is a momentum indicator.

A green day tomorrow, even 3%, could be a nice indication that we aren't continuing the current downtrend.

I'm glad to see the true holders are still keeping strong, hope all are well.

Edit - If any of you keen eyes can spot a price divergence from the 11th of July, to the current low, this is also a massive green flag.

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SPQ Price at posting: 1.9¢ Sentiment: Buy Disclosure: Held
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(20min delay)
Last 0.7¢		Change 0.001(16.7%)		Mkt cap ! $15.18M

Open	High	Low	Value	Volume
0.7¢	0.7¢	0.7¢	$10.79K	1.542M

Buyers (Bids)

No.	Vol.	Price($)
3	3040000	0.6¢

Sellers (Offers)

Price($)	Vol.	No.
0.7¢	232715	1

View Market Depth

No.	Vol.	Price($)
3	3040000	0.006
15	6590189	0.005
7	3405208	0.004
2	870008	0.003
3	1050010	0.002

Price($)	Vol.	No.
0.007	232715	1
0.008	7989585	8
0.009	2053375	4
0.010	2000000	3
0.011	1623079	3

Last trade - 16.10pm 13/01/2025 (20 minute delay)

SPQ (ASX) Chart