How do you know it's not just "wind" from a collection of bodily orifices?
By that I mean chartists look at someone buying, and because they're buying (for whatever reason) then someone else thinks they should buy. So on and so forth, and before people realise it, the stock comes down crashing to the original price. Pity that no one blows a whistle at the top!
As for "momentum" investing - what a misnomer. That type of rally, which has no fundamental basis, by definition has no weight. No weight means no mass.
But momentum is velocity x mass. No mass means no momentum. Therefore that behaviour cannot be called momentum investing.
MCE - Bottom based, head and shoulders reversal, page-18
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Last
23.0¢ |
Change
-0.005(2.13%) |
Mkt cap ! $72.45M |
Open | High | Low | Value | Volume |
23.5¢ | 23.5¢ | 22.0¢ | $55.45K | 242.7K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 113179 | 22.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
25.0¢ | 28075 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 14995 | 0.290 |
1 | 8500 | 0.285 |
1 | 6500 | 0.280 |
1 | 15000 | 0.270 |
1 | 10000 | 0.265 |
Price($) | Vol. | No. |
---|---|---|
0.320 | 3031 | 1 |
0.340 | 3649 | 1 |
0.345 | 12762 | 1 |
0.350 | 98847 | 3 |
0.360 | 30000 | 1 |
Last trade - 16.10pm 22/11/2024 (20 minute delay) ? |
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