DSONIC - Possible re-accumulation phase
Point A - Stopping Volume appear on the down move, (Ultra high volume), may indicate buyers coming in to halt the move downward.
Point B - Re-test at of point A , now with lesser volume (but still considered high volume), indicating there is still supply in the market
Point C - retest of same area of point A & B, but this time volume is low indicating that professional money not interested in bringing the price lower than the support line.
Point D , volume increased while approaching the upper resistance line. If the next bar is a downbar, that means there is still supply not removed and price may travels back downward. If it closes above the resistance line (sellers absorbed), then price may travel further up
Comments are welcomed, Tq
Point B - Re-test at of point A , now with lesser volume (but still considered high volume), indicating there is still supply in the market
Point C - retest of same area of point A & B, but this time volume is low indicating that professional money not interested in bringing the price lower than the support line.
Point D , volume increased while approaching the upper resistance line. If the next bar is a downbar, that means there is still supply not removed and price may travels back downward. If it closes above the resistance line (sellers absorbed), then price may travel further up
Comments are welcomed, Tq