/// The relative volume associated with each decline or advance out of each congestion pattern is important, as is the volume from the previous declines. To confirm the formation as a head and shoulders bottom it is a requirement that the volume associated with the head is lower than the previous first shoulder. The rally into the second shoulder and the volume traded in the second shoulder should reflect the lightest volume of all. ///
Is this the case with MAK? Appears to me that the volumes in July at the first 'shoulder' were relatively lower than during the downtrend of early August, and also lower than present volumes on the way back up.
I'm no expert on TA, please fill me in.
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