Hi All Ords
Volume is important in determining whether a true Double Top formation is being created or if it is going to be a fake. Look at the volumes associated with both of the peaks.
* If the volume associated with the first peak is greater than that associated with the second peak(which it isnt in this case), this suggests that prices are unlikely to go higher - confirming the Double Top formation.
* If the volume accompanying the second rise is the same as that accompanying the first(which it is), or even greater, it is likely that the uptrend will continue.
The time span taken to create the Double Top formation can also help determine the likely progression of the price data.
* If the two tops are fairly close together in terms of time, it may well be a consolidation period(which it is imo), a pause for breath, before the rally continues.
Hi All OrdsVolume is important in determining whether a true...
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$11.41 |
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| Open | High | Low | Value | Volume |
| $11.12 | $11.41 | $10.72 | $70.22M | 6.258M |
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| No. | Vol. | Price($) |
|---|---|---|
| 2 | 96833 | $11.40 |
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| Price($) | Vol. | No. |
|---|---|---|
| $11.41 | 41345 | 1 |
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