/biz/ - Business & Finance

>>23015996
3: Now here's the dailies.
The volume looks beautiful! If it keeps waning as it's doing at the end of the sequence, not so much. But if it goes back to match the massive green volume we're seeing here, it's certainly loading up for a pump.
I lowered the 11.49 level we drew before to 11.25 which holds better at this timeframe (it's basically the same thing anyway -- remember, it's a range, not a line). I also added some bullish lines. The top 2 are reasonable, the bottom one is speculative and hoping for the best possible bull case.
This is also the first timeframe where ibkr lets me draw VWMAs so here we go. The upper line is 2SD above. We see the wicks are jumping off right that level twice, and for the most part, the entire range looks well respected. 2 or 2.5SD might be watched by the big players there. This is 100VWMA by the way.
The price action in the last few days show a break above the bullish memeline to try to breach 11.25, rejection down into the channel, and into its lower part. This is a clear pullback pattern in my opinion and I expect the price to suffer further. We also see the latest wick bounce off the 8.79 level we drew all the way back on the monthlies. Great! I don't believe it'll hold though. The candles are too big, which means volatility, which means no consolidation, which means more downside in my opinion. I think this is headed to the lower end of the channel before it jumps back up (if it does), but that's being very bullish, because it could well be headed for the SD instead, which would lead to about ~$6 or so before bouncing back (as the price decreases the VWMA and its SDs will flatten and then drop a bit).
I don't see the price go down to the bearish channel we drew on the monthly, which is good news. 4.74 should be the absolute minimum.

Next up, I'll do the entry, stop loss, and price targets for these timeframes.
I'll consider the case we do bounce off the 8.79, and the case we head toward 4.74.