RE: US Stocks - Watchlist and Discussion (Premium)
(2015-03-12, 11:07 PM)Amedee Wrote: Isatrader, I don't see the weak volume...
In the following chart I highlighted the volume in green. Average volume is 1.3325.622 and it reached that week more then 4.000.000. It looks like that was the breakout attempt, no?
I think you misread my post. I didn't say it had weak volume. Just a weak close on the weekly price, as it was in the lower half of it's weeks range, which is not good on a breakout, which must close the week in the upper third of the weeks range ideally.
Also, it was definitely a breakout attempt. But was just missing the price requirement, which is one of the most important imo.
(2015-03-12, 11:07 PM)Amedee Wrote: Where do you see the weak close on the weekly bar? Could you point it out on the chart?
See attached with explanation. Hopefully my maths is correct, but roughly closed at 35% of the breakout weeks range. Where ideally you want to see over 60% to consider it a strong weekly close imo. As 35% is almost in the lower third of the weeks range. Whereas you want it to close in the upper third of the weeks range and ideally near the high of the week.
isatrader
Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill - Reminiscences of a Stock Operator.
Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill - Reminiscences of a Stock Operator.