HIBISCUS PETROLEUM BHDPanjang
HIBISCS - Re-Accumulation in progress?
Hi
Possible Wyckofff Reaccumulation phase in this counter
A - a major support turned resistant line
1 -Preliminary Supply
2 - Buying Climax
3- Automatic Reaction
4 - Spring on light volume
Up move from 4 to 5 - minor Sign Of Strength /Jumping Across Creek
6 - No Supply bar
From 2 to 5 , volumes had decreased which may indicate gradual accumulation by Smart Money
The rally from 4 to 5 was associated with increasing volume , followed by reducing volumes during the reaction from 5 to 6.
I'm looking forward for price to rally again up till the upper line B. If price manage to rally and close above B in strong increasing volume , it may indicate major Sign of Strength and price may mark up further.
Trade at your own risk.
Possible Wyckofff Reaccumulation phase in this counter
A - a major support turned resistant line
1 -Preliminary Supply
2 - Buying Climax
3- Automatic Reaction
4 - Spring on light volume
Up move from 4 to 5 - minor Sign Of Strength /Jumping Across Creek
6 - No Supply bar
From 2 to 5 , volumes had decreased which may indicate gradual accumulation by Smart Money
The rally from 4 to 5 was associated with increasing volume , followed by reducing volumes during the reaction from 5 to 6.
I'm looking forward for price to rally again up till the upper line B. If price manage to rally and close above B in strong increasing volume , it may indicate major Sign of Strength and price may mark up further.
Trade at your own risk.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.