It's important for traders to understand money flow and accumulation. It's not just about red and green days. It's the underlying activity that will tell the story.
Up until yesterday, money was flowing in and being accumulated. Not dumped into the bid. Then accumulation began to reverse on the hourly chart. No biggie. Could be for any number of reasons. But when it starts to bleed into the 2hr, then the 4hr, then the Daily (as we are now), it is a deeper problem suggesting a reversal.
You are also now trapped below the 5day and 10day MA's. That is not good. Yesterday you became weaker than the 5 and 10 days prior. That is not a sign of strength. And with a supposed HUGE PR coming, you would not see these things.
Someone knew today's news would be week, or knows that the 'acquisition' is not coming.
This is now dead for awhile until it sets back up later down the road.
Good luck all.
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