It is purely technicals. When you hit a major technically significant price there is always a reaction. In a downtrend this is either triggering a shit tonne of stop losses that are bought by buying pressure, shorters covering their positions (both result in trend reversal) or no buyers are found and a rapid waterfall effect with continued heavy selling. Expect 55cents (ish) tomorrow followed by a pause and somewhat of a retrace back to 50ish before the real action in a couple weeks.
TLG Chart, page-3838
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Last
44.0¢ |
Change
-0.020(4.35%) |
Mkt cap ! $178.2M | |||
| Open | High | Low | Value | Volume |
| 43.0¢ | 45.0¢ | 41.5¢ | $263.0K | 611.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 11306 | 42.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 44.0¢ | 32763 | 1 |
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| Last trade - 16.10pm 29/08/2024 (20 minute delay) ? |
| TLG (ASX) Chart |