This chart pattern is highly speculative. This doesn’t mean the stock won’t go higher but that buying it at this price is a very risky situation. On the weekly scale, the trend is bending under selling pressure as smaller funds and retail buy because the stock has been moving up. This is NOT a Dark Pool accumulation mode. Volume is declining steadily also. Volume that declines precedes a correction, either sideways action which means more upside eventually, OR a downside correction to a support level where fundamentals meet technical price levels.
Martha Stokes, CMT
ttrader.im/learn-tv
Learn how to use the technical patterns of each market participant for better trade planning.
ttrader.im/learn-tv
Learn how to use the technical patterns of each market participant for better trade planning.
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.
Martha Stokes, CMT
ttrader.im/learn-tv
Learn how to use the technical patterns of each market participant for better trade planning.
ttrader.im/learn-tv
Learn how to use the technical patterns of each market participant for better trade planning.
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.