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two days of closing near highs of day after early session weakness bodes well nearterm. 287/288 needs to break to test 300p. for the larger picture, until 315 is broken on a closing basis there is still a risk of testing recent lows.
SP has spent several minutes trying to break 287
thanks Jtan
So, gaps and things aside, are we now on a genuine rise north?
Thanks for explaining in a such a simple and easy to understand way - I completely get it after that
Appreciate it
when there is news pre open, market makers will shift the price to reflect this change. so the shares opened just under 281, that was the first trade below there. during the day the news and overall better market sentiment drew in buyers. there is some technical resistance at 287/288 which brought in some profit taking. that and the fact thats it is half year end which means a lot of folks will be taking profits on what has worked this year so far, means there were more sellers than buyers. reopening and cyclicals have been weaker for a while but i expect that will change towards the end of this month or beginning of july at the latest. tonight wall street looks to be ending firmly on the back of powells statement to congress and while its largely tech led, it bodes well for tomorrows uk open. a flat open for NEX with a quick dip to close the gap would create a solid foundation to retest 287/288 later in the day. i would not like to see a second candle in the same vain as today, as that would be quite bearish.
Thank you - I looked up a few examples on google to.
How does that explain how this finished below what it opened at.
Hopefully this will continue to rise and we're back at £3.00 by the end of the week!
bring up a chart of the share price. select the option which shows the daily price. select the option candle or bar. here you will see the daily trading ranges shown. you will see that today the share price opened above yesterdays trading high. this is called a gap. like most technical trading, it becomes a self fulfilling prophecy in that traders will target that gap and others will place orders just ahead of the gap. once gaps are filled, if they create a volume spike and the share price "bounces" it is often seen as a bullish signal. i often use gaps to open positions in a rising medium/longterm trend.
Hi All
Can somebody please break it down for me as I don't understand what you mean by "fill in the gap" I am quite new to investing.
Also this was up over 3% almost all day until the last few hours, what happened?