I've decided to repost this under a different heading as i would like others to comment under a "technicals" post.
A massive white candle on close after a head and shoulders with a large volume on close indicates strong reversal. It also bypasses the minor resistances @ 5, 5.5 and 5.7c. I would have liked it better to pass 6c but looking at the selldown, this reversal in unbelievable. Looking at past white candle reversals for CTP, more than 70% of them yielded positive and sustained SP for more than a month. Furthermore, the rises yielded returns of 20-30% in the short term.
What do i think will happen tomorrow. I believe it will open pass resistance of 7c. If it hits 8c tomorrow, it will almost be a guaranteed 10+c share this week.
Good luck to all holders. For me, unfortunately ive sold down a significant portion of my holdings earlier after confirmation of the head and shoulders pattern. Its a loss that i had to take as a trader.
Fortunately for others, in technical terms, such a massive white candle reversal on close immediately AFTER a H/S formation is rare and signifies strong market acknowledgement of this particular find.
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- technicals should see this 10c plus
technicals should see this 10c plus
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Last
5.4¢ |
Change
0.000(0.00%) |
Mkt cap ! $39.96M |
Open | High | Low | Value | Volume |
5.3¢ | 5.4¢ | 5.2¢ | $55.74K | 1.043M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 14718 | 5.2¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
5.4¢ | 96570 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 14728 | 0.052 |
1 | 720712 | 0.051 |
2 | 3001200 | 0.050 |
1 | 200000 | 0.049 |
3 | 50520 | 0.048 |
Price($) | Vol. | No. |
---|---|---|
0.054 | 96570 | 1 |
0.056 | 19995 | 1 |
0.057 | 132936 | 1 |
0.058 | 172431 | 1 |
0.060 | 90909 | 1 |
Last trade - 15.16pm 02/09/2024 (20 minute delay) ? |
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