Hi Everyone,
Not sure if anyone notice SDL is forming a W shape from mid April to now.
W shape is one of the major reversal pattern.
Some of the characteristics:
1. The two bottoms of the W shape will have to be 2 to 4 weeks apart
2. The volume of the second bottom usually lower than the volume of the first bottom, which represents the selling pressure has been diminishing.
As you can see in the chart, the volume at point D is obviously less than the volume at point B.
3. Volume should be decreasing in the downtrend. As you can see, from point C to point D the volume has been decreasing.
4. This hasn't been confirmed yet : that when the price starts to break through the price at point C ( which is around 40 cents in this case ), the volume should be larger than the volume in the downtrend.
It looks like we are going to have point E in either end of June or early July where SDL announces the finance partner.
These are just my personal opinion, comments are welcomed
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sdl chart -- reversal pattern
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