Apart from dumps and pumps (likely artificial), the response high/low pattern is losing. If the recovery looks anemic from the low, it is. Stay off this buy for now. I agree that 13K is a reasonable rally point, but where are we supposed to get the volume to do so?
Expect another fall off, once the street sees that momentum, absent charity pumps and bull traps, is on decline.
I drew the following parallel channel, and exempting the artificial/inexplicable high and lows, it's a declining channel.
Sorry pass on the rally for now.
This document is for information and illustrative purposes only. It is not, and should not be regarded as “investment advice” or as a “recommendation” regarding a course of action, including without limitation as those terms are used in any applicable law or regulation. You will understand this comment as purely speculative, is done without compensation by you, and bears no accountability for the success of your investment actions.
Expect another fall off, once the street sees that momentum, absent charity pumps and bull traps, is on decline.
I drew the following parallel channel, and exempting the artificial/inexplicable high and lows, it's a declining channel.
Sorry pass on the rally for now.
This document is for information and illustrative purposes only. It is not, and should not be regarded as “investment advice” or as a “recommendation” regarding a course of action, including without limitation as those terms are used in any applicable law or regulation. You will understand this comment as purely speculative, is done without compensation by you, and bears no accountability for the success of your investment actions.