Hey @Rooster100 Yep I agree with most of that commentary. I...

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    Hey @Rooster100

    Yep I agree with most of that commentary.
    I noticed whoever is running the show, hit the brakes a bit on the third bar of the reversal (which did not complete until the fourth bar - using TR).
    There was an attempt to hold it back at that point - for whatever reason.

    But yes, the buyers appear to hold the upper hand overall - no doubt.
    I don't call those down waves with high cumulative volume 'bullish absorption', but I know what you mean (and you can call them what you like really).
    I do note those two down waves in particular had some increased short sales in them as well, probably to help move the market down - and the daily short sales used were not really reflected in the short interest of either down wave - which is another anomaly.

    Yes the stock is probably worth a few shekels on breakout (or test of the breakout).
    Just remember that commitment to the positions is only modest right now (if the market tanks - for whatever reason - those position can and will be easily dumped at this point).
    Once the mark-up begins the buyers will become more committed to their positions, and even more so as it moves higher - and at this stage there will be some defence against supply when it comes in, and positions won't be dumped very easily (but they can still be dumped if another Sh!t Sh0w starts again).

    Nice pick up, and well worked out.

    EHL 140620.png


    cheers

    .
 
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