Thirumalai Chemicals: Comes Across As Nice Distribution

This stock has been one of the biggest gainers in the past 18 months or so. The price action over the past few weeks is however suggestive of distribution or selling by the smart money or the composite operator as Wyckoff would term it.

Look at the volume signature near the highs and the subsequent price action. Doesn't look too promising to me. If you own the shares, it is probably time to tighten your stop loss. A breakout to new highs, backed by strong volume would make me turn bullish again in this stock.
Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Help Center Refer a friend Feature Request Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out