The weekly chart shows that accumulation is going on. On the daily chart it is possible to see that demand levels (in green) are respected and supply levels taken out (up trend). Price is currently at a previous demand level and last day was a test from a VSA perspective (low volume hammer). Good long positions can be executed entering now or, in a more...
The weekly chart shows that accumulation is going on. On the daily chart it is possible to see that demand levels (in green) are respected and supply levels taken out (up trend). Price is currently at a previous demand level and last day was a test from a VSA perspective (low volume hammer). Good long positions can be executed entering now or, in a more...
1 - This is an effort to rise, but next candle is down. Not much result from the effort
2 - Narrow bar on new high and increasing volume: buyers are finding sellers up here
3 - Here we find support since the bar is narrow, volume increases and next candle is up
4 - Again, the effort doesn't produce a result and price falls, but the candle closes off the lows. This...
I bought United States Steel yesterday @24.99. Although yesterday's close confirms the test, the volume is low so the stock could rest again, but the background seems in favour of higher prices.
Detailed analysis:
1 - A sign of accumulation: high volume candle with a narrow spread that touches new lows but closes on its highs. The next candle closes lower and...
1 - Downswing on increasing volume and tight closes: the accumulation phase started here
2 - Decreasing volume on down bars: sellers are exhausted
3 - Effort to rise on ultra high volume: market doesn't like this kind of candles because they could hide sellers, so the stock pauses to test supply
4/5 - Two tests of supply but the following candles failed to...
1 - Long spread candle on high volume that closes slightly off its lows, but the next candle is up on increasing volume. Notice also that the next candle touches new lows. Accumulation starts here
2 - A low volume narrow spread candle: lack of demand
3 - Again a high spread candle on high volume, the next candle touches new lows but closes higher: another...
1 - Downswing on increasing volume and tight closes: the accumulation phase started here
2 - Decreasing volume on down bars: sellers are exhausted
3 - Effort to rise on ultra high volume: market doesn't like this kind of candles because they could hide sellers, so the stock pauses to test supply
4/5 - Two tests of supply but the following candles failed to...
1/2/3 - Accumulation signs: down bar on increasing volume that close off their lows
4 - Strong sign of strength: after a series of tight closures on high volume, this candle touches new lows but demand enters and the candle closes up on ultra high volume. Next candle closes higher and confirms that the volume was buying activity
5 - Effort to rise candle on ultra...
Be careful: this is a low cap stock and the analysis below is purely technical. Please check fundamentals of the company.
1 - After a period of accumulation (high volume on down candle but little downswing and tight closures), we have an up-thrust on ultra high volume that closes on its low but next candle is up on high volume: supply/demand dynamic is changing...
1 - Sign of strength: Ultra high volume on down bar that close in the middle and the next candle is up
2 - Lack of selling pressure (very low volume on down candle)
3 - Long spread candle on high volume that closes near its highs: effort to rise
4 - Sign of weakness: ultra high volume candle that closes off its highs and the next candle is down. There still are...
