Banter and General Comments, page-185

Well said Kill Shot, that’s right on the candlestick we are seeing a “Bullish Hammer” this is a reversal of the pullback. Basically what has happened is a counter trend has pulled back to the major trend line. 90% of time all things being equal the counter trend always ricochet’s off the long term trend line and upwards off we go again. So the candlestick Hammer is telling us the Pullback is about to reverse and go back up. Keep an eye on the daily Volume as that gets lighter it means sellers are drying up, and the Bulls always wait to see if there’s any more selling once that’s confirmed they then stampede back in. Like a Cat watching a bird in a tree before pouncing. This is what causes light Vol and is a tell tale sign we are about to reverse. Stocks on a pullback generally consolidate 5 to 7 days before resuming the uptrend,Three hiher highs and three higher lows define an uptrend and once that is confirmed a strong uptrend can just keep going. Look at WBT, PLS I could go in and on. stocks always swing either side of major round numbers e.g a stock will swing either side of 10 at 8-12 or $1 80- to 1.20 with prime numbers in this case either side of 50 is 30 to 70, so the only part I disagree with you Kill Shot is next stop will be 70 which could work in with more assays results seehttps://en.m.wikipedia.org/wiki/Hammer_(candlestick_pattern)