It looks as thought today's move could have been a short squeeze as price is narrowing into a rising wedge on not so wonderful volume. Not that it couldn't gap higher and squeeze higher, just that the structure seems weak:
Compared to the last time price rebounded off the 200-MA, forming the perfect seed wave on a 3d setup
2 comments:
The only problem I have with techncal analysis. How can it account for the death or sudden and unexpected illness of the chief executive of a company. That can not possibly be in the price of the stock.
What that has to do with technical analysis (or any sort of analysis for that matter) I'm not sure.
Only supply or demand exists in the price of anything which is auctioned.
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