Okay, in the interest of learning, let me throw two-cents worth in concerning the chart. Understand, this is just thoughts. Curious to see how right or wrong it may pan out to be. Best way to learn. If I’m intruding on your thread, let me know.
First of all, the overall:
Clearly broke out of a channel, but not exploding just holding their own. But PPO turning up and very interesting in it’s bouncing off the “50” on the RSI, which seems to be it’s happy place.
Looking at the candles closer:
Nice bullish marubozu (A) but followed by indecision with a doji and spinning top (B). Todays’s Belt-hold marubozu is strong (C). Bit of a wick pulling back, but overall great given the overall market. Prior volumes moderate to small but with a large increase today.
As the saying goes, amateurs buy in the morning and pro’s buy in the afternoon:
Suggests that someone is starting to accumulate.
Overall, a strong candle formation in the setting of a declining/volatile market. Full disclosure is that while I would buy some for the chance, I’m on the road to take are of grandkids. I can’t monitor such a position and that is what I would normally do. The key is monitoring to minimize losses. Luck to all!
Lakedog