SERBADK - Selling effort vs Selling result
According to Wyckoff rule (rule no. 3 I think), effort must be proportionate to result. In this chart, we can see that at the recent down move B, compared to the previous down move A, the cummulative volume of down move B was much much higher (>2x) than that of down move A volume (see the bottom Weiss indicatior).
In spite of this high cummulative down volume B, price only move slightly lower than the low of the down move A. (high effort, but poor result).
Therefore I suspect that the high volume in down wave B is contributed largely to BUYERS instead of SELLER.
I'm looking for price to move up at least until it retest the top horizontal resistant line.
Trade at your own risk.
In spite of this high cummulative down volume B, price only move slightly lower than the low of the down move A. (high effort, but poor result).
Therefore I suspect that the high volume in down wave B is contributed largely to BUYERS instead of SELLER.
I'm looking for price to move up at least until it retest the top horizontal resistant line.
Trade at your own risk.
"KUALA LUMPUR (June 30): Serba Dinamik Holdings Bhd has bagged 10 new contracts, including three worth an estimated RM543.5 million in Indonesia and Zambia"
Now we know why wave B had such high volume. Smart moneys had been accumulating it prior to the news.