I can remember trading LKE some time ago, but missed out on the...

I can remember trading LKE some time ago, but missed out on the rise this year from 90c to 260c. The stock has been on my watch list since it started its retraced of this spectacular rise. Is there anyone else out there who uses Volume Spread Analysis (VSA)? My VSA chart for LKE is shown below.



With this type of low cap speculative stock you can't discount the messages that are provided in Volume traded. The highest Volume on my chart, and it's at least 3 to 4 times the average daily Volume, occurred back on 18/03/2022. I've draw two pink horizontal lines from the Low and the High of this Ultra-High Volume bar. The VSA signal that appeared on that bar was Absorption Volume (all supply at higher levels was absorbed by demand) a Sign of Strength (SOS). On the fall back from the high of 260c a VSA chartist would have been looking for other SOS signals that could help to identify the end of the fall. With LKE these SOS signals appeared on 06/05 and 10/05, a Stopping Volume signal quickly followed by a Selling Climax signal. And surprise surprise, these signals occurred with a Close in the range of the prior Absorption Volume (SP re-rate) bar. Any reader can easily infer possible support and resistance levels in the short term for the LKE SP from this chart. This VSA "Strength in the Background" suggests that a bottom has been reached, but all this could change if the lower levels of implied support fail. LKE is now at the top of my watchlist. I have very different, to VSA that is, technical setups to trigger a new trade, but this background strength is a very good sign.

Good luck everyone. All IMO and definitely not financial advice..