The gap up out of accumulation seen here is quickly cancelled out by way of significant retracement, I could still this breaking out...but not before another period of accumulation at this new level. Time will tell.
Selling being absorbed was followed by a decent accumulation period with regard to duration, and this was followed by a fakeout. The breakout was strong in terms of price, but the volume didn't back up the move. Price retraced the next day.
The close this week has the UAMY with some some bullish candles in terms of both price and volume, with deep lower wicks. I...
High volume during selling and an apparent channel has formed. Waiting on a (valid) breakout to confirm bullish move. The length of the accumulation period will (likely) heavily influence the length of the bull run...assuming it starts.
FESL appears to be oversold and is now in congestion/accumulation. Waiting on a breakout from the .0740 region of resistance. The longer the period of accumulation, the longer a (valid) breakout will be.
I was bullish yesterday based upon what I thought was a short term breakout. After the follow through today, I'm neutral in the short term. It was a nice ride...short and profitable. Just the way I like it!