A. Classic triple top - low volume at peaks showing little interest in pushing stock any higher.
B. Classic retracement back into a resistance area - Traders reject price coming back into support - CLASSIC reversal sign - money to be made
A. Slowing of uptrend in to prior swing high - Creation of chop - General consensus about appropriate price created.
B. Swing high up to lows of congestion zone.
C. Congestion at point of resistance w/ very high volume on small candles on breakout.
D. Shortest band of selling in the day with retracement to resistance and then another rebound off of support.
A. Price jumps first thing in morning and finds a congestion zone - buyers and sellers have come to a general consensus about what price should be.
B. Price rejects lower price coming in to zone B and then once again rejects lower prices with easing momentum for a second time - this signals that price should be headed upwards.
C. Momentum slows and buyers are...
A. AAPL opens up high but then hits previous high of yesterday and QUICKLY rejects price.
B. Price slows momentum coming up into the day's highs however stays strong. Price retraces to support and support holds for the price to bounce off of it twice.
C. Momentum of price begins to slow and forms a daily high
D. Price catches support on the level of the...
A. XOM started the day off by shooting up to $101.75 and then basing and continuing upwards to the high of day.
B. At the high, XOM got hit by a barrage of selling, pushing it down $0.15 - Price quickly rebounded but on VERY high volume demonstrating a high level of selling - not making a new high.
C. Price found support again at its previous basing levels however...
A. Test of day's highs with a quick rejection
B. Candle with long tail, sold away from resistance on climatic volume.
C. Tendency towards the support - bearish bias.
D. Low volume showing rejection of lower prices
AT&T appears to be trying to breakout for the second time in 3 days. Although the first breakout failed it was done at higher volume so that MAY have involved a lot of buying. Yesterday also was pulled down by selling but then the buying forces pulled the candle up to a green day. The breakout is on lighter volume, however that could also mean that we do not...