LTIMINDTREE LTDEducation
LTIM at Pocket Pivot
A Pocket Pivot is a specific price action pattern that signifies potential institutional buying pressure within a stock's base or uptrend. It is characterized by two key elements:
Higher Volume: The current day's trading volume must be significantly higher than the volume of any down day in the previous 10 days. This surge in volume indicates increased institutional interest and potential accumulation of shares.
Upward Price Movement: The price should close higher than the previous day's close, confirming the buying pressure behind the volume spike. Additionally, the stock price that has "respected" the 50-day moving average during the prior price run, indicating a positive trend.
Higher Volume: The current day's trading volume must be significantly higher than the volume of any down day in the previous 10 days. This surge in volume indicates increased institutional interest and potential accumulation of shares.
Upward Price Movement: The price should close higher than the previous day's close, confirming the buying pressure behind the volume spike. Additionally, the stock price that has "respected" the 50-day moving average during the prior price run, indicating a positive trend.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.