Hoping there is a fundamental reason for today's m
Post# of 154867
(Total Views: 847)
Posted On: 06/07/2022 1:49:03 PM
Re: Evil Rabbit #124295
Hoping there is a fundamental reason for today's move that those 'in the know' are buying this up on. The other possible explanation may be technical. Not sure what dolphintom posted but FWIW today but we broke out of a well defined wedge consolidation pattern as well as the 50ma that had both been providing resistance. We now are currently sitting at new resistance at the 200ma and 4/26 high.
All of this stuff may sound crazy but there many traders that make a fortune trading a strict rules based approach, based on these sorts of measures. Many will buy this sort of pattern break without thinking twice. If they're disciplined, they'll exit just as quickly when the momentum dries up and a stop is hit. Would be great to see us hold this level.. flag a bit and push through. All of this mumbo jumbo means more when there's volume to back it up and we're already at ~120% of the 30 day average. So thats good.. Now.. as they say in Braveheart HOLD!!!
All of this stuff may sound crazy but there many traders that make a fortune trading a strict rules based approach, based on these sorts of measures. Many will buy this sort of pattern break without thinking twice. If they're disciplined, they'll exit just as quickly when the momentum dries up and a stop is hit. Would be great to see us hold this level.. flag a bit and push through. All of this mumbo jumbo means more when there's volume to back it up and we're already at ~120% of the 30 day average. So thats good.. Now.. as they say in Braveheart HOLD!!!
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