JSFB, a strong name ready to dance
A Good Setup:
Jana Small Fin Bank (JSFB) after giving 60% move in just 15 days from first base after IPO, didn't fall much, only 13%.
Instead went contracting between trendlines (TL), suggesting supply is low.
-Forming HTF(high tight flag, when move significantly but didnt fall much and contracts)
-Hovering near 10 ema
-Tight closes with volume contracting
-Green vol > Red vol
- VCP 3W-13/4-3T (meaning in 3 weeks contracting from 13% to 9% to ~4%, these 3 contraction are 3T in notation)
Read if you haven't: Volume Contraction Pattern (VCP), a good concept by sir Mark Minervini (his books are highly recommended)
Waiting patiently for breakout(BO) of trendline(TL) with some vol.
Jana Small Fin Bank (JSFB) after giving 60% move in just 15 days from first base after IPO, didn't fall much, only 13%.
Instead went contracting between trendlines (TL), suggesting supply is low.
-Forming HTF(high tight flag, when move significantly but didnt fall much and contracts)
-Hovering near 10 ema
-Tight closes with volume contracting
-Green vol > Red vol
- VCP 3W-13/4-3T (meaning in 3 weeks contracting from 13% to 9% to ~4%, these 3 contraction are 3T in notation)
Read if you haven't: Volume Contraction Pattern (VCP), a good concept by sir Mark Minervini (his books are highly recommended)
Waiting patiently for breakout(BO) of trendline(TL) with some vol.
Note
Still setup is on as falling with low volumes. Reversal entry setup
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