TIL: Text-Book Wyckoff Accumulation

Mar 9, 2017

This stock is a perfect candidate for those wanting to study Wyckoff methodology. Price has cleared the inside-channel line and has to clear the upper / bigger trend channel.

Chances are that we might test the lower end of the trading range, marked in green box. Such a move may offer a nice buying opportunity, provided our assumption of Accumulation is valid. On the contrary, a breakout above recent highs would indicate that the Mark up phase is underway.

Plan your trade and position size based on your risk parameters.

Apr 5, 2017

Note

Price action has been very positive thus far. A breakout past the top red downsloping line and the magenta horizontal line will be a major sign of strength. Watch this stock. Could turn out to be a big mover.

Apr 28, 2017

Note

The failure near the upper Magenta line is not a positive sign. Until the high is taken out, there would be a strong case for a sideways to lower trend in the stock.

The swing low of 289 is a key level to watch. A close below this level would strengthen the case for an upthrust and a slide to the lower end of the trading range.