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I agree Ray regards low volume shares but with the higher volumes it's easier to see momentum.
We must be approaching a point where the traders have taken their profits as the initial jump looked like it was fuelled by large buys. The recent drops are moving on much smaller trades.
A share, like an index, usually re-traces and then starts accelerating again once the profiteers have gone.
There is no connection wit Scancell and the US open. The London market can execute trades from America at anytime and the exchange rate is a red herring,. The fall in the £ makes no difference because it will hit them when they sell.
Tree shake over and up she goes
The Liberals have stopped all this fun.
https://www.youtube.com/watch?v=cX4xuhPKzrI&ab_channel=AndeeBee
Babs is married to actor Robert Powell
Hi Chester
This is the same scenario as I have posted recently where the moving averages (20 day, 50 Day and 100 Day) cross each other.
The 20 day goes higher than the 50 and that goes higher than the 100.
This happened with Scancell mid August. The 20 went over the 50 on 30th July, followed by the 50 going over the 100 on Friday 14th August. The Golden Cross was complete signalling a big move up to come.
The Golden Cross is still intact.
Hi Chester
Charts on AIM are not great for support and resistance as I don't believe Scancell has enough volume each day over a prolonged period to come to any sound decision.
The charts are good for moving averages, RSI etc as these tend to give a pattern over a period of time that compares past, present and likely future momentum. That was evident recently in the increased volumes from 27th August. The 8th September chart was very telling as it had huge buy volume of 16m followed by a 2m sell off the next day with only a slight re-trace. The following days we saw increasing buy volume peaking at 11m on Monday, 7m buy on Tuesday and back at 5m sell today.
So today, the price drop is not justified by the volume, tomorrow will be interesting as a return to 7m or 8m buy volume will regain the 10% drop.
Keep your eye on the volume tomorrow as the MMs can't take the price down without serious sellers and I think they would have been seen in bigger numbers today.
All to play for, with the Bulls holding all the good cards.