Regen BioPharma Inc (RGBP)

[foxi]

It had some trading action there this week but it's still too thin a line on the volume profile rollup, so it still potentially acts as a gap between stronger established support and resistance.

The market is naturally drawn into low-volume areas to see how trading behaves there. Does price hold at a previously undiscovered support line, or fall through? The effect is that price suddenly gets 'vacuumed into' such areas (with action like this afternoon's sudden selloff) until volume fills out and the rollup is mostly uniform again. That way there's clear support and resistance levels and fewer unknowns to help direct future trading when this runs again later. The idea is you can sometimes use the shape of the collapsed session profiles to help guess where trading will move next. (The lower case b shape says Down)

Sometimes the market will totally just skip a low volume area forever, as well! If there's enough bullishness building up, there are unknown levels to fill out higher than today's close that it could explore instead. I will note today's close is far below the pink average line on the session profile (bearish) and I don't know of any news catalyst