Nice point laid out visually. I think we'll be getting a strong breakout very soon....and by end of the month at the latest.
deadlypants
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scary
UnknownUnicorn5836947
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SPY has been rejected on every single overbought attempt lately so this may not be a bad play short term..
Thing is though, it almost seems too easy. Two of the exact same patterns, the first one having had an extraordinary rise, and was also due to a black swan event aka Covid.
Why is the buy volume here absolutely dominating the volumes seen during Covid when it bottomed out? The worst we have right now as far as news is possible new strains of the virus but that's pretty much it.
One thing I've learned in investing is that volumes are pretty much fake, they're often used to trick people or to nudge the price in a certain direction for liquidity.
This reeks of a fakeout. Legit seems too easy. Then again, I am someone who feels strongly that Nokia is a possible banger right now so I am kinda braindead. Idk man, seems fishy. Be careful.
KlydeFrawg
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@teh_salesman, I'd be all over Nokia if it wasn't for the 5.6 billion shares outstanding