PME's mark up continues. It has broken out of a down trend recently, through previous highs to make an all time high this week.
Note the volumes die off around April and return in September. This area of the chart I identified as an accumulation zone and with the breakout signifying the end of the accumulation zone and start of the markup.
CCV we had an up trend from June to October before recently drifting lower. Note previous resistance at $0.34 has become support and the volume in the retrace has been minimal. This is showing limited interest to the downside and I expect to see a second go at the $0.395 resistance level.
CCV on a daily shows some interesting bar combinations:
1. Comes back and tests the breakout (drops below trend line as well) yet wasn't dumped (normal volume). This is followed by an immediate up bar on even less volume showing lack of selling pressure which is then accelerated to our next resistance level.
2. History repeats itself, we come back and test the support line this time with a gapped down bar that does receive high volume. Response was an up bar that stood tall, closing the gap on minimal volume, again signifying low selling pressure. (Shakeout and down bar therefore contained buying??)
3. Most important bar of late, gapped down again exactly the same as 2, only this time it received bugger all volume. Market has responded positively,
MNY in an uptrend with a resistance level forming ascending triangle. The break above the resistance looks to have contained a lot of selling with down bar in response encountering similar volume. Keeping an eye out for tests.
CCP broke out of ascending triangle. Not the extended period of consolidation (October to October) on the back of the large gains in 2016. Fundamentally this stock is in a great position and I'm looking for the 2016 range to repeat itself.
ANN watching it for a break and test of the break. Looked to be consolidating in the 23-24 range before being brought down to the lows of the range ~$20.30 where strong buying occurred. I see this as an attempt to aid accumulation and remove weak holders. If it clears the resistance, I anticipate a strong markup with supply being recently removed in background and next resistance being around the $27.50 level from 2015.
IMU broke out, but gave it all back and then recovered back above the breakout. Check out the daily, the response to the large spread gapped down down bar received way more volume making me think the down bar has contained buying. The remainder of the week spread narrowed but volume remains higher than normal. Watching out for a low volume test bar.
JBH forming a descending triangle. Anticipate this to breakdown further with it struggling to rally any sort of decent response to a double bottom.
RXP triple bottoming. The response to the double bottom was healthy and hindered by a capital for an acquisition and is now trading below the capital raising price. I've grabbed a bottom feeding position with the volumes drying up as it forms the triple bottom if you exclude the off market trading between substantial holders which my charts do not.
