Short Term Trading Week Starting: 10 July, page-231

seeing a lot of charts similar to PNX at the moment where the final slide in their downtrend was on next-to-nothing volume, and then volume comes in on a flat bottom, or absorption bottom if you wanna call it that. so now very minimal resistance overhead until about 015 for PNX imo? not across it fundamentally.
i'm buying BOE on same pretext - support has come in and not a lot of resistance until 6-7cents.
could name about 15 other charts in a similar setup atm but i could be wrong, it's not the most convincing setup and they can go sideways for come time.