Short Term Trading Weekend Lounge: 21-23 Oct, page-148

Quite an interesting chart with a few things going on. Note the pink trend channel. Price has always returned to within the channel whenever it has breached the demand (lower) line. The breakout above the trend channel was on record volume for the stock.

There is a bullish descending wedge which is highlighted and which has seen price action break out from it.

Note the trend channel formed by the lower yellow tyne and the dashed yellow warning line below. Price is still confined within it. The red fork has been textbook given the low liquidity of the company. The high vol, high spread day was confined almost entirely between the red median and the top red tyne. Price then fell back as expected and there is a high probability it will retest the red median and bounce. The intersection of the top red tyne and the lower yellow tyne is a high probability price attraction point.