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S&P 500
5,495.52
(
0.45%
)
US TECH 100
18,306.00
(
-0.22%
)
Dow Jones
40,736.96
(
-0.23%
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70.70
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1.68%
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FishyFingers

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FishyFingers

Re: FlyFishingStocks post# 100956

Thursday, 02/23/2017 9:26:18 AM

Thursday, February 23, 2017 9:26:18 AM

Post# of 428841
Fair enough. Interpret it however you want, and call it whatever you want. From a day trading perspective I can see how you could interpret it as BEARISH, but in my eyes the bar shows strength for the simple reason that it was marked up to 3.58 and rather than meeting an avalanche of supply (as has happened in the past), this time it was knocked back down on volume significantly lower than the average daily volume. I interpret it as a "beauty" because the share price is now free to rally the next time it enters into that price zone, and as a BULL, higher prices are what I want.

If prices trend down short term so what? I KNOW that any down move from here on out will be minor and temporary because of what I have seen on the weekly and monthly price charts.

Its all good.


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