As can be seen on the volume profile on the LHS 7.0 has been a key supply zone, the sellers have been happy to feed out supply here to the tune of around 4m shares. Interesting however that the dominant green at this level indicates that almost all supply was hoovered with buyers stepping up rather than sellers dropping to the bid.
The other key info on this chart is in the bottom volume bars, volume has been dominant on the upwards swings suggesting accumulation.
Today it appears that the last of the supply at 7 was taken out, coinciding perfectly with the end of the ascending triangle.
One of the most bullish charts I’ve seen in some time. The next few days should be hold onto your hat stuff.
BLZ Price at posting:
7.2¢ Sentiment: Buy Disclosure: Held
