jamison.gaddy
Long

Showing signs of accumulation.

NASDAQ:SCTY   SOLARCITY CORP
75 0 3
I chose the daily timeframe ; however, it is labeled to reflect 60 min, 240 min TF as well. This is useful because you can begin to appreciate how accumulation and distribution of different timeframes influence others.

2016 started with "preliminary supply" ( PSY             ) followed by the Feb "selling climax" (SCLX). The subsequent "automatic rally" or "dead cat bounce" marked a "stopping action to the end of the Markdown following Distribution from 2015. The cumulative selling pressure leading into March did not break support because buyers were absorbing supply. This accumulation resulted in our April             highs and "buying climax" (BCLX) and "upthrust after distribution" (UTAD). Following the distribution price breakdown into May where we find another smaller phase of accumulation.

It would appear that theses test and re-test are making up are larger scale 6 MONTH ACCUMULATION PHASE.

If price can hold $20 and close above the 8ema; I will consider a LONG into anticipated resistance at the 150/200 sma .

Good Luck.
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
ประเทศไทย
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out