MOON will the thin volume vacuum trigger an effortless breakout?A long drawn out trading range between 200p and 230p and Monday opened right at the top of it.
The volume profile on the right is the interesting part. There is very little volume transacted above 222p, which tells you that price level has rarely been tested and agreed upon by buyers and sellers. Thin volume areas offer thin resistance.
As the price approaches 222p again in the future it is worth paying close attention. If it can push through on decent volume there is not much standing in its way above that level.
A key level to keep on the radar.
Long