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Looks like it is making a decent attempt at absorbing the supply...

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Jako8557

16,642 Posts.

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30/03/17

23:29

Post #: 23755296
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Originally posted by gypaetus ↑

ASN found support again on medium volume (2.7M for 8 point spread). It gapped up on open to rise to previous resistance of 053 before closing back on previous resistance of 050. The midpoint close indicates there is still an element of hidden supply/selling. Time will tell how much supply still exists above 050.

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Looks like it is making a decent attempt at absorbing the supply that was drawn out on Monday, and is in turn consolidating the breakout above 5cps.
I guess it could still go either way (depending on how much supply continues to come out), but it looks more positive than negative to my eye....so far.

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