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Jako8557

19,112 Posts.

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21/02/18

08:34

Post #: 31208017
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Originally posted by Ravgnome ↑

Just a quick look...IFL.

The last two weeks price action, has found support at the bottom of the gap (daily chart) back in August. Slight downtrend from the high Volume, Widespread, bar back in October, (if you include the last 12 bars). For the stock's benefit, (and my own conviction) I'd like to see it touch the lower Two Deviation channel at $10 before attempting the climb above $ 11.36 (but doesn't matter either way). There is a bit of congestion to navigate above the $10.70 area as well. There has also been some nice falls and sharp recoveries since October with plenty of accumulation opportunities provided for the more professional trader. The last dozen bars have... followed the greater market, closed the gap on the daily chart, and tested the resolve of the retail traders in the congestion zone above.

Cheers.

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Thanks Rav

that makes good sense.

cheers

Last edited by Jako8557: 21/02/18
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