Long
Possible breakout to new All Time High from VCP characteristic
Updated
SWCH shows a possible setup to new ATH (all time high) from a VCP characteristic. It is a relatively new name (IPOed in 2017) and since 2019 showing some real strength - last few days look like a consolidation at the top - no pump and dump. Key level is 31.80. To make the picture look better - i am missing a below average volume - sadly it is above average - so caution is advised.
To train your eye - look back at 'cheat' VCP as we saw it back in March - and at that time we had nice volume compression.
So ... you can keep it on your radar - though as always MANAGE RISK!
To train your eye - look back at 'cheat' VCP as we saw it back in March - and at that time we had nice volume compression.
So ... you can keep it on your radar - though as always MANAGE RISK!
Note
if it holds ... todays price action could be considered as shakeout
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