When you look at price action, what do you see?
1) Major trend direction. Long
2)Major areas. Support is $55.00 & Resistance is $58.00
3) Last was: positive or negative
On chart 8/3/17, was positive with 0.17 cent surprise (PA will go up in future)
It is very hard to trade stocks around .
4) What is doing? PA was oversold, then yellow squeeze happened
then a $5.00 rocket in PA happened.
5) After positive surprise in & large , then PA come back down.
*This is expected. Why? because no Price Action can go up $5.00 or straight up.
6) Top insider sold on 8/14/17 a value of $498,300,199 of shares (around 874,210 shares)
*Question: If an insider sells large amount of shares? should stock go up or down?
ANSWER IS: UP, why? there is less shares to buy, which causes price action to go UP.
In my option the best time frames to get trends are daily and 4 hours for daily trading.
7) Is Price action above or below 50 moving average- that is my neutral line on charts
Lastly, after report let price action settle before jumping into a new trade, especially after large