It appears some panic selling has taken place but someone is...

  1. 810 Posts.
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    It appears some panic selling has taken place but someone is buying up, initial gap down bar closing off its low on high volume indicates buying taking place within, next 2 bars in blue box show panic selling closing on low and buying coming in next day closing just below previous high, (and not beyond, indicating further accumulation to come?) also indicates probably some buying in previous down bar, next 2 bars on reduced volume as price is left to drift lower before a small spread, high volume bar closing just off its low, SOS, buying happening whilst fear is dominating, not quite bag holding but similar, purse holding maybe , final bar shows well below average volume down bar, small spread, No Supply, another SOS.
    A good example of the kind of chart I'm trying to avoid
 
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