BOXL is nearing the end of accumulation range. Will likely test 1.86 support before showing a clear trend up.
Trade active
STOCK10/06/20
Trade entry @1.86 average
10/13/20
Down (9.30%)
Price testing a support level at 1.64. Didn't think it would find support that low, but seems to still be in Phase D of Wyckoff's accumulation model and 1.64 is a last support level.
-Setting stop at 1.56
Note
Identified phases incorrectly. Spring occurred at 1.29 followed by a reaction and a creek (range). After the creek came the first SOS, beginning phase D where mark-up occurs within the accumulation trading range. A break of 1.86 will signal the start of phase E where mark-up occurs outside of the range.
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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.