This is more what I mean @stayer, the lines on the chart are simply drawn by people like you or me. The price does whatever it wants, although enough people trade according to them so they're a reasonable predictor of how others will observe things. A self-fulfilling prophecy if you will. But sometimes things change and sentiment changes.
An observation made that I made previously was that SHJ was trending within a symettrical triangle which was true, until it wasn't. It had the support of the blue line, until it didn't, and then the ass fell out and the price and it dropped to low 70s.
Now the price is trending within a falling wedge. Patterns are simply observed, and are subject to being revised and changed.
This is more what I mean @stayer, the lines on the chart are...
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 (20min delay)
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Last
88.0¢ |
Change
-0.010(1.12%) |
Mkt cap ! $144.2M | |||
| Open | High | Low | Value | Volume |
| 89.0¢ | 89.0¢ | 87.0¢ | $56.06K | 63.23K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 12285 | 88.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 89.0¢ | 233251 | 2 |
View Market Depth
| Last trade - 13.43pm 29/11/2024 (20 minute delay) ? |
| SHJ (ASX) Chart |
