Weekly Charting - 13th April 2018, page-5

Thanks Jako 8557

I really haven't got a clue and the last thing I want to do is demonstrate my ignorance. So don't laugh as I haven't read the answers.(The true test)

Chart 1 The print is really small. I can't read all of it so can't totally make a mess of it if I can't say what the whole question was can I. Anyway thats my excuse. Thanks for the out btw.

At a glance I see we have a lead up price increase then massive volume with an upthrust then what looks like what I would call price restraint up and down(for want of a discription) in the following two bars and a rising close is noted.

What next ....I am guessing really but much of the same price wise as the volume is decreasing and the price is slowly rising. Also its a breakout so the price will gradually rise as the sellers are taken out. However what was it that caused the breakout?. Knowing that is what I think is critical unless its just a case of seller exhaustion which I dont believe is all that common across some stocks.
It could jump very much higher also as in breakout as the buyers will drive it to a new resistance.

Its a buy

Looking forward to finding the answer but in good time.


Chart 2.

Very slight possibility I am onto this one.

Volume consistent and a price increase so here we have seller exhaustion The buyers are now the masters of the scenario. They will keep driving the price upwards until we have a breakout. Easier said than done without a fundamental reason for the rise. To me it looks like something is going on in the last section with the high low high low high closes at the end of each bar. Possibly traders trying to keep the price under control perhaps until it gets away from them or they let it go.

Another Buy

The moment of truth has arrived. Do I want to look at the answers?. Not so sure about that now.