"...Hence the Tech folk announcing doom and gloom on the chart yesterday ... only to be washed away with surprise announcement and rally today. Learnt the hard way that if you completely ignore FA then you are trading with 1 arm behind your back..."
of course we will have to disagree with your above comments.. I am barely interested in any FA of a company and can quite easily survive without it..
but anyway, those 'Tech folk' you speak of obviously have misread the chart on this occasion..
06Aug - high volume wide spread upbar closing high, which you could call a DWC..
it is then followed by two quiet (less volume less spread) inside bars .. they are basically telling the 'Tech folk' to keep an eye on this setup (potentially bullish) as this, for some, is their 'bread and butter' trading setup..
with a FA announcement or not, this was always going to be a potentially bullish trigger and today it proved to be..
today opened by gapping higher, fell back into the centre of the DWC and then proceeded to close at the above resistance level and in doing so has cleared that downtrend resistance area..
now its game back on.. no time to be a wimp up here.. its your show tomorrow (or shortly) as everyone will be watching for either, a big breakout (both volume/spread/highish close) or the other bullish alternative is for a soft pullback... let the games begin
ZIP Price at posting:
$1.11 Sentiment: None Disclosure: Not Held
I am barely interested in any FA of a company and can quite easily survive without it..
