Key Observations:
Breakout Attempt – Price has pushed above previous consolidation, testing a critical resistance level.
Declining Volume Trend – Despite the breakout, overall volume has been decreasing, which could signal weakness. However, there was a slight volume spike during the breakout.
Trendline Holding – The upward-sloping trendline suggests bullish structure remains intact.
Possible Scenarios:
Bullish Case: If buyers step in with strong volume, we could see a continuation move toward new highs. Watch for a solid close above resistance with increasing volume.
Bearish Case: If this breakout lacks follow-through and volume dries up, we could see a rejection and potential retracement back into the previous range.
Trading Plan:
Watch price action around the resistance zone for confirmation.
A strong close above resistance with high volume = bullish confirmation.
A rejection with weak volume = potential fakeout and reversal.
What’s your take? Is this the start of a bigger move, or is SPY about to roll over? Drop your thoughts below!
#SPY #StockMarket #Trading #Breakout #TechnicalAnalysis
Breakout Attempt – Price has pushed above previous consolidation, testing a critical resistance level.
Declining Volume Trend – Despite the breakout, overall volume has been decreasing, which could signal weakness. However, there was a slight volume spike during the breakout.
Trendline Holding – The upward-sloping trendline suggests bullish structure remains intact.
Possible Scenarios:
Bullish Case: If buyers step in with strong volume, we could see a continuation move toward new highs. Watch for a solid close above resistance with increasing volume.
Bearish Case: If this breakout lacks follow-through and volume dries up, we could see a rejection and potential retracement back into the previous range.
Trading Plan:
Watch price action around the resistance zone for confirmation.
A strong close above resistance with high volume = bullish confirmation.
A rejection with weak volume = potential fakeout and reversal.
What’s your take? Is this the start of a bigger move, or is SPY about to roll over? Drop your thoughts below!
#SPY #StockMarket #Trading #Breakout #TechnicalAnalysis
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.