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akgo01

4,407 Posts.

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26/04/22

12:06

Post #: 61017406
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Originally posted by akgo01: ↑

I see a compelling evidence that Wyckoff market cycle is still valid now. On 12th March, I wrote that the bullish candle the day before was the signal for the start of the final phase of accumulation when trading range was substantially broken and an uptrend started (Post #:60154184). Then after 3 days of a savage stop loss hunting, which frustrated many holders here, the share price started going up to reach a new ATH on 5th April.

The candle on that day shows the sign of the buying climax; it reached the top but had no support to remain there; exhausted. And that is the start of the distribution phase when some big holders continue taking profit.

Now, I don't think the distribution phase is over yet. But what happened last January when the share price was smashed by macro condition can happen again next week. It would be really good if that happens, because that means the mark down can start and finish sooner rather than later and a new phase can begin.

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The distribution phase is over. It is marking down now.

AKE Price at posting: $11.65 Sentiment: None Disclosure: Held
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