Fernando_132

Greatest Percent GAINER OVERBOUGHT

Short
NASDAQ:BLIN   Bridgeline Digital, Inc
After two great news, BLIN managed to run up to 10.41, making it an overbought stock.

Jul-02-21 09:24AM
Bridgeline Receives More than $2.5M in Warrant Exercises
GlobeNewswire
+56.00%
Jul-01-21 09:00AM
Bridgeline Partners Win More than 20 Site Search Licenses in its Third Quarter
GlobeNewswire
+33.72%

This two news made possible this situation in which stocks are starting to be sold by demand.
Looking at the chart, we can see how all highs where made with great volume , which is good but the corresponding candle didn't responded the same way, most of the time it closed in its third, showing how demand was getting out of the stock while it kept going up,
We had another sign of weakness in the upward trend when the triangle that formed duting the spring in the supposed wyckoff's accumulation phase, didn't break with strength even though, prices kept mooving up but very timidly, until we had another spike, this time a hammer candlestick (a warning about a change) with the second greatest volume of the timeframe;; this time, the remaining demand got out of the stock, that maintained some momentum that made it break the resistance formed by great volume with no volume ( another sign of weakness) and the icing on the cake comes when we had a doji , reasuring the weakness and how little time the bullish trend has left. (We also have the three [200 SMA , 50 SMA , 20 SMA] SMAs overextended, and prices very far from them).

Surely the news made some great profits to the insiders, but the ones who came late are now out of the trend and should stay out until we have a few clear signs of strength. As we expect the stock price to come back, at least, to the lateral range limited by the blue support and resistance .

I Hope You Have A Great Day!!