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26/11/19

14:57

Post #: 41639570
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Originally posted by Jako8557: ↑

No not really, a true mark up is done over an extended period - a steady but unrelenting uptrend is a better example of a mark up phase.

That looks just like a price spike on a (good) news announcement (this is generally a 'scramble for positions' on a good news announcement by some players, which draws out profit taking from other players).
If so, price is currently attempting to consolidate within the range of the previous strong upbar on high volume.

So obviously, such a large increase in price has drawn out some profit taking. Price needs to find where the equilibrium between supply and demand lies. This level is kind of dynamic, especially in liquid stocks, so it may be a slightly moving target (or price), depending on sentiment at any point in time.
By the looks, supply (selling pressure) has reduced somewhat, but after such a large spike higher, it will often take a while to know for sure.

cheers

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thanks Jako, I see supply has reduced but also little interest at these levels. Who will win? Only more bars will tell.
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