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clock Created with Sketch. 30/01/20
15:00
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Originally posted by Jamieevie:
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The steps are watch for the selling reaction to occur, see if an automatic buying reaction happens (ie price jumping up sharply as all holders who are looking to capitulate have sold until it hits a new higher level of supply) then price forms an accumulation trading range. During an accumulation there's quite often a retest or two of the lows of the selling which are usually the least risky entry points in a trade and if it springs from there its a good confirmation of the stock being accumlated. It's worth holding off entering because sometimes the lows of the selling climax can be taken out (ie it acts a preliminary support level and the final selling climax is a little lower down the demand trend line).
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looks probable support at $1.50 and 1.62 ... but possibly as low as $1.26 ... I am expecting 1.50 to hold tomorrow and say its time to get in.... any diverging arguments?
