Bull flag noted. Price must break resistance of the BF in a clear uptrend
To calculate targets for C&H pattern, subtract the cup high (33.60) from the cup low (8.56). Take this number and multiply it by 0.38, 0.62 and 0.79 or use a Fibonacci chart from top of cup to determine targets. In a high trending stock you can add 100%, 127 and 162%.
This stock had high effective volume last week, buying by large players with a pocket pivot today and 2 days last week,
Effective Volume analyses the intraday volume on the minute level to determine what small and large players are doing in terms of accumulation and distribution. For using the indicator you should basically understand: if the red line goes up, large players are buying on average, if it goes down, they are selling. But we really advice you to get a more detailed understanding of the indicator. There is a book by Pascal Willain that is great about Effective volume.
Price forms a pocket pivot, when:
The price goes up compared to yesterdays close.
The volume today is higher than the maximum down volume of the past 10 days.
Pick a good entry if you like this stock. Large players have more money than most of us do, and very often it is not their money they are using..lol
Not a recommendation
To calculate targets for C&H pattern, subtract the cup high (33.60) from the cup low (8.56). Take this number and multiply it by 0.38, 0.62 and 0.79 or use a Fibonacci chart from top of cup to determine targets. In a high trending stock you can add 100%, 127 and 162%.
This stock had high effective volume last week, buying by large players with a pocket pivot today and 2 days last week,
Effective Volume analyses the intraday volume on the minute level to determine what small and large players are doing in terms of accumulation and distribution. For using the indicator you should basically understand: if the red line goes up, large players are buying on average, if it goes down, they are selling. But we really advice you to get a more detailed understanding of the indicator. There is a book by Pascal Willain that is great about Effective volume.
Price forms a pocket pivot, when:
The price goes up compared to yesterdays close.
The volume today is higher than the maximum down volume of the past 10 days.
Pick a good entry if you like this stock. Large players have more money than most of us do, and very often it is not their money they are using..lol
Not a recommendation
Kommentar:
There is a small gap over price so resistance may lurk there. It will become support if and when price passes through it. A lot of volume when price dropped below 32.