Hey traders, PACKAGING CORP OF AMERICA is in a fake bearish movement with a short-trace water-carrying candle shape and a low return of traded buy volume. The TIMEFRAME M1 shows a marubozu with a low return in sales volume made it is heading to last previous lower. Which is on the bottom of the fake triple top balance zone after that she goes to rechecker the different levels of the bollinger expected the last highest.
Then the VWAP to access the top of the balance zone again test it. Great potential to breakout the price with the additional momentum return then the zone to fit on the one above and put on the top that follows. To fill in the bearish breakout gap with a possible rise (on TIMEFRAME H1) after two highs before breakout a zone of equilibrium. And two resistors to give way (on the TIMEFRAME H4) which applies to the neckline to go up the fibonacci retracement
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Then the VWAP to access the top of the balance zone again test it. Great potential to breakout the price with the additional momentum return then the zone to fit on the one above and put on the top that follows. To fill in the bearish breakout gap with a possible rise (on TIMEFRAME H1) after two highs before breakout a zone of equilibrium. And two resistors to give way (on the TIMEFRAME H4) which applies to the neckline to go up the fibonacci retracement
Please LIKE & FOLLOW, thank you!