The stock has formed a doji on having a triple top formation.
Volumes in this stock has previously also failed to follow up with good rallies.
Can be looked to short below the trendline.
Volumes in this stock has previously also failed to follow up with good rallies.
Can be looked to short below the trendline.
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Hence, go long in the case of breakout with good volumes.
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Volumes don't matter in this stock . Proven today again. Classic reversal from triple top and trendline has been broken. Unless it sustains above the line for a while, stock's weak. Shorting opportunity.
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Closing above the line. Not weak. No shorts.
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23 Mar : As suggeested , no shorts to be taken. It has given good follow through. Initiate longs, shows good signs of strength.
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Longs initiated have given 3 % gains today.
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7.5 % up today. That's great :)
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Lesson revisited : Volumes do matter as always.
Take this into consideration too.