ARDR - Possible Ending Action

23 באוק׳ 2017

Price movement to the downside hit the long term resistance line and bounced. Weak volume possibly indicating sellers are tired. Possible ending action. Expect volume to rise significantly if we enter the top half of former trading range (marked as the higher rectangle in blue) as a sign of strength - spring action still a bit weak, look for good volume to the upside for a safer entry. However, note that once supply is truly exhausted, the slightest amount of demand can trigger a move to the upside due to lack of supply. Careful with your stops, final attempts at accumulation could be the name of this game.