I'm simply pointing out a technical pattern in a strongly trending stock. The pattern shows up once a stock
has a LOW above the previous HIGHEST LOW in a consolidation. I marked this situation with a GREEN CIRCLE. These green circles preceded the nice run-ups in RVLT.
I realize they also coincide with new highs but what I prefer about this method is that it looks at the bottom (support, strongest buyers) of the market in an advance and not just the top (extreme buyers only).
We can see if this pattern continues.
I have not found news to explain the recent rebound from the low $3's. A rally on no-news tends to continue. If you see the news on the tape, feel free to post it here.
Thanks and cheers.
Technical Tim 1:13PM EST Thursday, May 30, 2013
has a LOW above the previous HIGHEST LOW in a consolidation. I marked this situation with a GREEN CIRCLE. These green circles preceded the nice run-ups in RVLT.
I realize they also coincide with new highs but what I prefer about this method is that it looks at the bottom (support, strongest buyers) of the market in an advance and not just the top (extreme buyers only).
We can see if this pattern continues.
I have not found news to explain the recent rebound from the low $3's. A rally on no-news tends to continue. If you see the news on the tape, feel free to post it here.
Thanks and cheers.
Technical Tim 1:13PM EST Thursday, May 30, 2013
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