Strong momentum backed by price and volume; aka ANTSNASDAQ:ALLT ’s phenomenal momentum is backed by David Ryan’s Ants Indicator. Both daily (right) and weekly (left) timeframe attest to this. For more information on this indicator, you can check out John Muchow’s script on this platform.
Ants indicator is how David Ryan interprets institutional accumulation over the last 12-15 periods. This is not to say that the price will continue its momentum because this is still a lagging indicator. So it should be complemented with price action strategy.
I supplement this indicator with Mark Minervini’s Trend Trending Criteria (which is all green on weekly timeframe) as well as Relative Strength Rating (which happens to be 99 on daily timeframe).
