Bearish Confirmation Indications according to Volume Profile Strategy
As the trend line is apparently broken, the price is now below the heavy volume zone between $13.80 - @14.20 (which may now act as resistance and hence may get selling pressure to the next volume profile zone between $9.60 - @10.20. There are two bearish scenarios that may be possibly in development.
Scenario 1
Either price finds support at the current price level of $13.00 and goes up to hit the High Volume Profile Zone of $13.80 - @14.20 and heads lower to the next lower High Volume Profile Support Zone of $9.60 - @10.20.
Scenario 2
The price continues lower and finds significant support at the next High Profile Support Zone of $9.60 - @10.20.The Volume Profile Zone of $9.60 - @10.20 is expected to be a very strong support zone where I would be interested to buy for medium term.
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
As the trend line is apparently broken, the price is now below the heavy volume zone between $13.80 - @14.20 (which may now act as resistance and hence may get selling pressure to the next volume profile zone between $9.60 - @10.20. There are two bearish scenarios that may be possibly in development.
Scenario 1
Either price finds support at the current price level of $13.00 and goes up to hit the High Volume Profile Zone of $13.80 - @14.20 and heads lower to the next lower High Volume Profile Support Zone of $9.60 - @10.20.
Scenario 2
The price continues lower and finds significant support at the next High Profile Support Zone of $9.60 - @10.20.The Volume Profile Zone of $9.60 - @10.20 is expected to be a very strong support zone where I would be interested to buy for medium term.
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
Note
This is the Zone where price got supported before, continued higher and made higher highs. Now that the stock has been dumped but I do not expect this critical and strong level of $8.00 - $9.00 to break, which means that I am Bullish now but at the same time I do not expect price to rise immediately. I think price may consolidate and coil to form more energy to pump up. This kind of Price Behavior is healthy for an uptrend to continue.Note
Note
Still expecting some more consolidation between $9.70 and $10.50 and watching price action. I like the way it has held support for now.Note
Note
A2M is consolidating in the $9.70 and $10.50 range for now. If this range is broken to the downside, i expect the $8.00 - $9.00 Support Zone to come in to play which is an extremely Critical Support Zone. Lets see what it does.Note
Note
A2M is looking good to me. We can see a strong green Bullish Green Bar, Good Volume, MACD Cross, RSI popping out of the Oversold Zone. Everything looking positive now for a buy position. I expect it to bounce upto $13.10 level (Support Now Turned Resistance).Note
Note
A2M is doing well for now as it has bounced off Support. I am expecting it to reach the $13.10 - $13.80 Zone.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.