The daily chart shows a double V V closing at daily highs.
The daily friday candle shows a green candle with 15c body 17c tail 9c head
this is bullish daily candle normally showing a reversal trend as the daily lows were strongly reversed hence the long tail longer than the body and the long body shows rising pattern intraday.
The monthly chart shows a slide down pattern
16.20-16.30 appears to be a ledge point formed since the 15-27 July ledge at the same price point on the way up.
The strong friday close which saw buying strength & a V whipsaw recovery was bought up all afternoon. Also abllish move.
Yet the monthly and annual pattern is a worry.
The next 7-14 days should show the TA experts whether this top crackdown was the start of the bear run or a fake bear or continuation of the bull run after a minor correction 19 to 16. SO 16-16.30 must hold, pressure at this level or a crack below may result in software & INSTO selling pressure on technicals. Guys like Chanos would be watching like hawks,
if a TA breakdown appears then they might all pile in for the gains protection trade or close stop loss calls.
If 17 breaks and holds it may be a ledge in the clear 5 year bull run continuation pattern.
Reminder-
Trading rule 3
dont be emotional in share trading, the trend is your friend
Trading Rule 1
buy low sell high
Trading rule 7
dont get caught catching the knife
Trading Rule 2
buy on the way up, not on the way down
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Last
$18.30 |
Change
0.325(1.81%) |
Mkt cap ! $56.66B |
Open | High | Low | Value | Volume |
$18.11 | $18.49 | $18.10 | $129.0M | 7.042M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
12 | 5623 | $18.29 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$18.30 | 22635 | 39 |
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No. | Vol. | Price($) |
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15 | 6507 | 18.290 |
13 | 12538 | 18.280 |
8 | 6497 | 18.270 |
7 | 7178 | 18.260 |
10 | 5015 | 18.250 |
Price($) | Vol. | No. |
---|---|---|
18.300 | 22765 | 40 |
18.310 | 17791 | 25 |
18.320 | 10019 | 20 |
18.330 | 7876 | 9 |
18.340 | 5503 | 8 |
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