ORIENTAL BANK - Triple Top Formation

The stock has formed a doji on having a triple top formation.

Volumes in this stock has previously also failed to follow up with good rallies.

Can be looked to short below the trendline.
Comment: The 15 min chart shows above average volume.
Take this into consideration too.
Comment: Hence, go long in the case of breakout with good volumes.
Comment: Volumes don't matter in this stock . Proven today again. Classic reversal from triple top and trendline has been broken. Unless it sustains above the line for a while, stock's weak. Shorting opportunity.
Comment: Closing above the line. Not weak. No shorts.
Comment: 23 Mar : As suggeested , no shorts to be taken. It has given good follow through. Initiate longs, shows good signs of strength.
Comment: Longs initiated have given 3 % gains today.
Comment: 7.5 % up today. That's great :)
Comment: Lesson revisited : Volumes do matter as always.


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.