Thursday, February 23, 2017 5:53:10 PM
MJTK chart update
I'd like to thank devon1 for a gift subscription @ IHUB. It helps me a lot!
From this chart it looks like the price will walk down to fill the gaps below before any new movement north.
The uncalled for price and volume spike 2 days ago reminds me of a darkside trading group move. They hold a lot of shares, and when they see volume fall while price climbs they know retail is not going to support the run to flag target. So the wash trade higher between the group to get retail emotion involved and dump their shares in a lightning strike pop. Once all is sold price dives as there was no real retail support in the first place.
If this GUESS is true. I'd say this play is over. Worth a weekly watch though. Because this retrace is forming a new possible flag pattern.
I'd like to thank devon1 for a gift subscription @ IHUB. It helps me a lot!
From this chart it looks like the price will walk down to fill the gaps below before any new movement north.
The uncalled for price and volume spike 2 days ago reminds me of a darkside trading group move. They hold a lot of shares, and when they see volume fall while price climbs they know retail is not going to support the run to flag target. So the wash trade higher between the group to get retail emotion involved and dump their shares in a lightning strike pop. Once all is sold price dives as there was no real retail support in the first place.
If this GUESS is true. I'd say this play is over. Worth a weekly watch though. Because this retrace is forming a new possible flag pattern.
Welcome to my mind!
Success to all
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