That alc keeps popping its head up around the places . Ive got it in a prospective stock from july watchlist im taking as a sniper entry was the reason for it .
Interesting play now by the looks with @Veritas2000 in the competition and for me its at a pressure point now with the price wanting go somewhere ?
Short term linear tread is pointing upwards for this.
Anyway for those who follow the sticks a bit the monthly chart for this stock .
Now for the witches and warlocks of the technical world
Break up of forty cents looks nice for a reversal pattern to show up here and well in the rocking horse stuff if it goes up with a bang and veritas nails his last days in the competition the pattern to occur is rising three pretty much which a continuation pattern .
Now im not a big subscriber where use this pattern but the fundamental parts if it ring true to what maybe occurring with this stock even if its not text book its the intuition if the market has conviction to continue trend thats occurring . Perhaps the monthly is a nice spot see it ? Along similar lines .
The bulls are in firm control before pausing to see if there is enough conviction in the trend. The series of small-bodied candlesticks contained between the first and fifth candle in the rising three methods pattern is regarded as a period of consolidation before the uptrend resumes. The decisive (fifth) strongly bullish candle is proof that sellers did not have enough conviction to reverse the prior uptrend and that buyers have regained control of the market. Active traders may use the pattern as a signal to add to their long positions.
