The indices may give a 1000 point push beyond day high but we need to look for strength beyond this level. On the flip side any weakness below the spring may take us to 18000 or lower.
CNX Finance : A simple wyckoff analysis , would have given some clue on the mayhem.
Just follow the simple trend line .... @ 11862, the uptrend stopped falling short of supporting the over bought line..
Now it is at the support . can can expect a bounce.... but should detract and continue the downtrend....
Gradual asset quality improvement and good financial performance qoq makes this script a must watch in an otherwise stellar valuation section of business..
Disclaimer.. Not invested, tracking fundamentals, not an investing /trading recommendation
The mssive drop we seems to be a small piece of a bigger picture ...
A successful test on the previous reacculumation formed support and a small accumulation in the seling climax region , raises the suspicion of another reaccumulation on the bigger time frame about to happen......
the Point and figure markup target, is a provisional one, the most probable assessment can only be made when the last point of support is confirmed , until then this is the minimum target that should be achieved post reaccumualtion
disclaimer.. not invested, tracking fundamentals and looking for entry
not an investing/trading recommendation
Disclaimer... not an investing/trading recommendation
This is not a time oriented analysis, although last 2 times whales took 5 to 7 days to reaccumualte
the pathway of price action as mentioned is not a projection based on TA, rather, a mimic of the textbook wyckoff reaccumualtion schematics...
the markup target can only be calculated accurately , on completio of...