CNB 3.97% 60.5¢ carnaby resources limited

I don’t usually look for candlestick indications in short term...

  1. 303 Posts.
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    I don’t usually look for candlestick indications in short term trading activity but it’s too good to ignore here. A close above 55c will mark 6 trading days with ‘step-ladder’ momentum. Green, Red pattern increasing at a decreasing rate. Standard accumulation approach when a tree-shake is occurring. Relatively similar to activity in March-2023 when we gapped from $1 to $1.6. Slightly resembling December activity in a similar gap from 60c to mid 80s. We’ll know what day news drops or large buyers decide they want to open up the throttle as it’ll be a 15-30% increase.

    The volumes we are seeing are also indicative of a gap up. Price increases seeing large volumes, decreases showing significantly smaller volume days, evidence that it is a buyers market. Every possibility we see tomorrow continue this trend with a substantial buying day, news dropping or both. It’s a trend until it breaks it, but the chances of flipping a coin 6 times in a row and predicting the correct outcome is 1 in 64. Proving that the chances of this trading pattern being random are 63-1.

    Tomorrow will be tell tale, if my prediction is correct, large volume, another 5-10% increase above closing price today (~60c). Then we are set to gap into the expected 80c range.

 
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(20min delay)
Last
60.5¢
Change
-0.025(3.97%)
Mkt cap ! $104.0M
Open High Low Value Volume
63.5¢ 64.5¢ 60.5¢ $352.5K 566.3K

Buyers (Bids)

No. Vol. Price($)
2 6599 60.5¢
 

Sellers (Offers)

Price($) Vol. No.
61.0¢ 4500 1
View Market Depth
Last trade - 16.10pm 31/05/2024 (20 minute delay) ?
Last
61.0¢
  Change
-0.025 ( 3.94 %)
Open High Low Volume
63.0¢ 64.5¢ 61.0¢ 179197
Last updated 15.59pm 31/05/2024 ?
CNB (ASX) Chart
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