Wyckoff trading method, page-1477

Yes, selling pressure was really low on Friday...actually it has been low all week.
You can see on the weekly chart below, that spread (or volatility) has narrowed (reduced) considerably this week, but this was probably because volume (and potentially selling pressure) has also reduced substantially this week.

If you really feel the need to re enter this stock urgently (or to be sure to pick the bottom for some reason), then come up with a plan that suits, possibly one that includes an initial position based on F/A, followed by some further T/A positions when they are warrented.....you could make this work with some thought I'm sure.

But apart from that, take a more patient view. Perhaps the better view of this stock, should be to monitor it on a weekly timeframe.....and wait for some form of (strong'ish) weekly buy signal.....and then switch to a daily chart to find a suitable entry point or level.

FWIW, I expect the probability is pretty high for a test of 77cps at some point, and what actually happens there will most likely be important for the medium term future of this stock.
So far, I don't see much in the way of any re-accumulation yet....and yes, stocks can sometimes turn and climb again without this being obvious, but I personally would like to see some form of potential re-accumulation before getting too excited about re-positioning on the stock. It still has an influence of potential weakness hanging over it. Have a look at the weekly inverted chart in the spoiler below........that is more like what you want to see.........

Spoiler : ****Inverted RXP weekly chart - click to view***

cheers