Inside Weekly Bar Formation - Week A volatility is 10%, Week B Volatility drops to 5.2% and Finally Week C is 3.6%. The stock went tighter in terms of movement meaning there were very limited sellers in the stock. All bars were inside the body of the previous one
SHORT TERM POSITIONAL PICK (2-4 Months) Looking at price right now it is consolidating and possibly breakout from the box will take it to 1650/1750/1850. Wait for confirmation on daily level for few days before taking position. OVER ALL TREND SO FAR IS UP.
A recently popular stock which has been running up in a channel is at a key channel support. Its still bullish but below the channel and black line it too could take the path of correction.
Ideally would like to see it bounce..
Lets see how it goes over the next couple days. #watchlist
The stock has been able to close above ¼ Gann angle in daily chart and extremely bullish. Watch for tody’s close above 1145 which will enable it to close above ¼ angle. If the bullishness persista with some intermittent ups and downs, the stock will eventually reach a level of 1550 in intermediate term, it is hoped. Support at 1041.
