Key points :
- Fading : The fact that is fading indicates that the pullback is losing momentum, we should see an increase in tomorrow compared to today. Interest in stock is rising.
- The wide range shows that bulls are strong and there's actually interest in the stocks (i.e. those that didn't trade have a chance to buy now)
- The stock gapped down, probably out of fear considering the overall market conditions, there's been a selling wave driving prices down but bulls caught up
***Disclaimer : This is not an advice to buy the stock. You should never ever blindly follow a trader's idea without knowing exactly what he talks about.***
Thanks for reading and if you have suggestions or wanna discuss the idea, just leave a comment, I'll be happy to answer.
Don't hesitate to DM me if you have other questions.