123Tom's TA study group

[123tom]

C,you said something about that price volume bar around 4.90 area...

does it suggest to you that this 4.90 (4.88 pivots),has a support energy because of the volume bought there ? I can see its a big target on this Fibonacci chart,and I'm probably buying some if it falls there. or the 5 dollar target area.

would you be saying that it means this 4.90 target is a base like the 5.50 has been. that we shouldn't see a big plunge thru the 4.90 all the way to hit 4.70,in that way, we just saw 5.50 fall to 5.10....because this volume around 4.90 will act like a brake of sorts, for at least a bounce or two....
?????