ORIENTAL BANK - Triple Top Formation
Aktualisiert
The stock has formed a doji on having a triple top formation.
Volumes in this stock has previously also failed to follow up with good rallies.
Can be looked to short below the trendline.
Volumes in this stock has previously also failed to follow up with good rallies.
Can be looked to short below the trendline.
Anmerkung
The 15 min chart shows above average volume. Take this into consideration too.
Anmerkung
Hence, go long in the case of breakout with good volumes.Anmerkung
Volumes don't matter in this stock . Proven today again. Classic reversal from triple top and trendline has been broken. Unless it sustains above the line for a while, stock's weak. Shorting opportunity.Anmerkung
Closing above the line. Not weak. No shorts.Anmerkung
23 Mar : As suggeested , no shorts to be taken. It has given good follow through. Initiate longs, shows good signs of strength.Anmerkung
Longs initiated have given 3 % gains today.Anmerkung
7.5 % up today. That's great :)Anmerkung
Lesson revisited : Volumes do matter as always.
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