XELA is looking EXTREMELY interesting on volume!
So in purely Wyckoff trading terms, what we seem to be in is a "SPRING" type event.
This happens when accumulation is confirmed (please see chart on the explanation), yet the stock goes into a major downturn afterwards. This is meant to shake people out of the stock so that the operators that are in control of the stock can buy in for cheaper and ride it to the top.
There are very strong signs that we have reached the bottom here. Mainly in the stopping volume that is being indicated, besides the fact that this stock is HEAVILY oversold. We have basically broken BELOW a descending channel (which is usually a sign of weakness), but in this case stock holders are getting BRUTALLY tested.
Whichever entity is in control the price of this stock is really playing hard with it.
After the last stock split, the price actually ended up more than doubling afterwards... The volume we are seeing confirms the stopping action, and as you can see on the 4hr chart, this last sharp move to the bottom actually came on lower volume.
All in all, I believe this stock is set to explode above $160
This happens when accumulation is confirmed (please see chart on the explanation), yet the stock goes into a major downturn afterwards. This is meant to shake people out of the stock so that the operators that are in control of the stock can buy in for cheaper and ride it to the top.
There are very strong signs that we have reached the bottom here. Mainly in the stopping volume that is being indicated, besides the fact that this stock is HEAVILY oversold. We have basically broken BELOW a descending channel (which is usually a sign of weakness), but in this case stock holders are getting BRUTALLY tested.
Whichever entity is in control the price of this stock is really playing hard with it.
After the last stock split, the price actually ended up more than doubling afterwards... The volume we are seeing confirms the stopping action, and as you can see on the 4hr chart, this last sharp move to the bottom actually came on lower volume.
All in all, I believe this stock is set to explode above $160
Comment:
Patience pays off.... up 50% post market close today!
