ndra, may have to take up another hobby perhaps lol
If anyone is interested have updated that video of which is just a quick flick thru the history of LYC looking specifically at that bar of 07Jan14, and all of its mates.
SOW26 is just the code# of an indicator in software that I use that is looking for high volume upbars that dont close on their highs etc, nothing special, but after spotting one we then set about looking for all the traits if it is friend or foe.
In the video one can read a more detailed explanation of what these are, but basically if its absorption volume,. look for bullishness ie. low volume testing
07Jan14 proved to be a friend as it was giving us those hints with those bullish bars that almost immediately followed it, which btw I'm fairly sure is the first successful one since I've been charting this stock that have encountered, so just like that other poster, my job here is now done.
Note, the previous eleven of these bars failed and imo most likely one could find bearish bars that follow which would've alerted one to be careful.
Today also happens to be a potential SOW26, HV upbar etc, so will be on the lookout for more bullish signs, if not well... Most likely this HV may need to be tested, so possibly if it does go higher it may very well return to this area, we will see. A few examples of this happening are shown in that big bull run of a few years ago.
Also have a few charts, one of which is a close up of that uptrend which shows those bullish SOW26's and how one could read them. Lastly the very first of these four bars, which kind of is the first absorption bar only starts with a mere 16M in volume and the last of the four has only 40M and the others fit between these two values. My point is, that the price doubled over a few months with these guys (the workers) only pushing higher on this kind of light volume, nothing like some have mentioned that they need to see 100M plus in volume a day to move higher which imo is ridiculous.
Timmo, know you are enjoying your holiday, I missed my 2week cut off by a couple days, sorry, but you now have your HL with an ideal entry taken yesterday or a slightly riskier one last Thursday. :)
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