relevant article for price action

What's most striking about what Wyckoff wrote in 1931 (and said in his newsletter prior to that) is how closely it matches what we see happening on Wall Street today.
Once a big operator has identified a stock ripe for trading, Wyckoff said, it will gradually, quietly accumulate a position in it to avoid tipping off any other investors.
In this stage, the idea is to buy the shares as cheaply as possible with actions that drive the price down. So the big trader "raids the market for that stock, makes it look very weak, and gives it the appearance of heavy liquidation by sending in selling orders through a great number of brokers," Wyckoff wrote.
Mechanisms to keep the stock price from rising too high during this phase include strategically selling large blocks of shares while spreading negative news about the company in question.
This strategy also helps weed out most of those who want to sell the stock, help setting the stage for the big run-up to come.
Ideally, the big trader tries to accumulate the bulk of his position right before some major positive news breaks - news that the trader knows about or expects to happen.
"You have often noticed that a stock will sell at the highest price for many months on the very day when a stock dividend, or some very bullish news, appears in print," Wyckoff wrote. "This is not mere accident.
"The whole move is manufactured. Its purpose is to make money for inside interests - those who are operating in the stock in a large way. And this can only be done by fooling the public, or by inducing the public to fool themselves."
Just before the positive news breaks, the big trader buys even more shares, creating strong upward momentum that dupes less sophisticated investors into buying and driving the stock toward a target price.
After the news hits and the stock peaks, the big trader will sell part of the position into the frenzy of buying by retail investors who think they're getting a hot ticket.
For the weeks after, the big trader plays the earlier game in reverse, keeping the stock near its peak while unloading shares until they're gone.
And then the trader shorts the stock, slowly building his short position as he did his long position.
When it's time to cash in for the second round of profits, the big trader cancels any buy orders he had made to prop up the stock.
"The specialist in the stock then tells some of the more important floor traders that the stock is in a weak technical position and that there is no support for the next 8 or 10 points and they all get together and raid it down ... at which point the operator covers his shorts," Wyckoff wrote.
Of course, at this point it's the investors who bought at or near the top - mostly of the retail variety -- who take a bath, while the big trader counts his profits.
"The way to play the Wall Street game is to do what they do, not what they say you should do.