False Base broken - now heading below $2, page-89

Charts tell you what market participants are doing - whether buying or selling. Stocks move in an cycle of accumulation -> mark up -> distribution -> mark down -> accumulation. As a retail trader your best returns are found from buying into accumulation, not a distribution. I'm not guessing - I'm reading what the market is doing as it shows up through the price and volume in a chart.

15 minute chart of recent price action - October 9-15 represented a short term accumulation reversal with the mark up on the 16th and then buying climax today into $3.02 which is now established as the supply zone for the next trading range. Activity over the next few days/weeks should give a clue about whether this is a re-accumulation, or the start of a redistribution. Too early to tell atm - above PSY at $2.80 is bullish for re-accumulation, below and it shows that there is more selling pressure than buying.