I am still here Serina. I updated to windows 10 on Sunday & had to then update my mobile wireless modem & since then have been trying to decide to uninstall it or just shoot myself. It has been a headache so far.
Anyway it appears that I didn't miss much.
I was very surprised that it didn't gap up & have a run similar to the one back on 3 Sept.
Realistically though this is better because it so far has not made a gap to be filled, the volatility is low & it is still following the patterns that I look at.
Ignoring the update altogether atm as it has not as yet made any impact on the trading, the sp has been consolidating for two weeks in a $0.03 range, has made a higher low & continues to trade in the lower half of the two week range and the lower half of the down trend channel.
I assume from that, is that we may have seen the bottom & are now starting to build the base for a continuation of the breakout from the 3 Sept.
There is after all no reason to think anything negative about PSY after the update. I would think that any selling is attempted manipulation as per usual.
The volume has been rising steadily & the ATR over the last two weeks has fallen to $0.015.
It looks to me like some very clever accumulation by someone.
Over the next few days I would like to see a slow steady rise up to the top of the channel to verify my thoughts.
A breakout from the top of the channel would be a stronger signal than a sharp spike from the current price level I think.
If it is being accumulated by the big boys then its them doing the selling to suck out any weak holders.
I find it a bit strange that there has been such a low response to the update given the amount of new info in that but that will change when & if the sp rises as those sellers dry up.
I would prefer to see a slow steady rise myself but the spikes are more exciting for traders.
Be happy.
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Price($) | Vol. | No. |
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