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trendtrader57

Buy on Break out of MA200 (1D) supported by an Utltra High Volum

Long
PIMCO Municipal Income Fund (NYSE:PMF)  
trendtrader57  
NYSE:PMF   PIMCO Municipal Income Fund
Trend Analysis Technical Indicators Trend Line Break
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trendanalysis indicator trendlinebreak
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MARKET STRUCTURE ANALYSIS
Market Stages: I - Accumulation Phase
Building a nice base with the current price trading on the right side of the base, fist appearance of Higher Low.
Not a perfect Inverse Head and Shoulder
Wyckoff Structure: After the Selling climax, Automatic Reaction develop forming the Trading Range and the SC (Support/Supply)acting as Strong Support Zones.
The Price Action has tested the Support zones at least for the third time. The last test is not able to form the normal Phase C (Support Test#4) Phae C of the Wyckoff TR as the "Buyers" are beginning to dominate. Several spots of "Ultra High" Volumes can be identified throughout the TR indicating SMART MONEY is actively accumulating Buy positions whih will ultimate push the price higher.
Technical Analysis: Price tested the MA200 line (also confluence with Inverse Neckline) but immediately met with minor sellers. The Volumes of the Bar that tested the MA200 comes with an Ultra-High volume showing a big interest
VOLUME PRICE ANALYSIS
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