there are so many other things involved here with VIIC other than a simple chart
but, there is no denying it im not the only one reading a chart
and other people are seeing this too
do you see the little red candle that we had today?
that little red candle, the bottom of it, is almost at 50% of the green candle (previous day)
50% of the previous green candle is at .0146 todays red candle gapped up at the open and then closed red at .0148
if we would have closed at .0146 - we would still be a higher close than yesterday but we would be at an exact 50% of the previous green candle
when you are saying higher lows, typically that is a running trend line (like in ascending triangles fashion)
anyway - a dark cloud cover is when the bottom part of the red candle closes at 50% of the previous green candle or lower than 50% - which we were at about 48% (close enough)
bottom line is - people are reading that on the chart
just being honest with you - for a chart trader - that points out - a DISCOUNT can be here soon - to buy into the stock - so they will wait to buy in
that is fine - nothing wrong with it
VIIC has been very healthy these last 6 sessions
it has not collapsed its bouncing off support and thats what you want
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.