Could also be to margin call people after their stops have been skipped.
seine
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possible but since it happened on earnings so i don't think the margin call can gap up the stock. market makers do this all the time - gap up near the resistance to change traders psychology.
IvanLabrie
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Definitely, the uptrend shows a healthy accumulation.
Probably more easily discernible in the weekly chart (and with the help of the volume profile indicator)
seine
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yeap, i like looking at weekly chart. it shows the bigger picture better than the daily
IvanLabrie
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I use the quarterly, monthly, weekly, daily and 8h charts, but for currencies.
The reduced chop and less frequent gapping makes the weekly easier to read I think.
seine
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exactly. so you trade currency pairs?
IvanLabrie
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99% of the time. But having a broader perspective on the markets is a good idea, so I'm trying to stay informed and learn as much as I can.