My Arguments why it is showing bearish signs.
1. SLKB 1 gave a Bullish impulse and a genuine one on an existing uptrend and made a good progress to push the price higher.
2. SLKB 2 gave a bullish impulse too, but progress was not made as it made in previous impulse, means loosing bullish momentum
3. This price is between A and B trendline, but it had ND and a SB. which acted as a resistance where EVRT(SLKT to RFSB) and SB appears this is confirmation of Bearish signs and loosing Bullish Momentum.
High Chance of Breaking down of Line B and find Support near Line C or next support where NS+DB occurred.
Abbreviations;
NS= No supply
DW= Demand Wave
RFSB= Resistance from Supply Bar
SFDB support from Demand Bar
SLK= Stop Loss killer
SLKB= Stop Loss Killer Bottom
DB= Demand Bar
EVRB= effort vs Result Bottom
My Mentors and Inspiration
Volume Analysis - Oleg Alexandrov
Money and risk Management - Dmitriy Lavrov-
1. SLKB 1 gave a Bullish impulse and a genuine one on an existing uptrend and made a good progress to push the price higher.
2. SLKB 2 gave a bullish impulse too, but progress was not made as it made in previous impulse, means loosing bullish momentum
3. This price is between A and B trendline, but it had ND and a SB. which acted as a resistance where EVRT(SLKT to RFSB) and SB appears this is confirmation of Bearish signs and loosing Bullish Momentum.
High Chance of Breaking down of Line B and find Support near Line C or next support where NS+DB occurred.
Abbreviations;
NS= No supply
DW= Demand Wave
RFSB= Resistance from Supply Bar
SFDB support from Demand Bar
SLK= Stop Loss killer
SLKB= Stop Loss Killer Bottom
DB= Demand Bar
EVRB= effort vs Result Bottom
My Mentors and Inspiration
Volume Analysis - Oleg Alexandrov
Money and risk Management - Dmitriy Lavrov-
Nota
This setup is not valid anymore. Still I am not bullish to this stock. Its way too overpriced. I would now only buy of thinking when it reaches at appropriate levels.
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.