Here is the daily [ATTACH] But the most important part is the...

Here is the daily



But the most important part is the weekly..

1. Volume arrived at the channel support, buying action occurred, thus pushing the price action upwards. As the price a few trading days before and after was around the support we can deduce that this may be a possible shakeout where the pros want to test who is the "weak holder". Followed by bar 1 volume decreased, and it failed to make a new high, this might be a move made by smart money to create a false image that the stock has reached its high point and that it will start going back down.

2. At this arrow  we have a basic pivot point, volume came in and the share price low at 2 is less then the share price low made at 1. This suggest another move upwards to test the resistance or the upper bound of the channel.  This is followed by declining volume to bar number 3

3. Sign of strength, huge buying pressure kicked in, turbos spooled up... and volume came to push it through the resistance. End of week it closed higher, suggesting a strength in the move. If you have purchased the week before there is a chance it might re test the previous 52 week high this week.  If it fails to re test the previous 52 week high, we are expecting a fall back into the channel and possibly signalling a distribution is currently in occurrence. And that bar 3 is a trap and we can see a mark down and eventually retesting previous throw backs. Indicated by the pink lines on the daily chart.




This one i will watch over the next few trading periods.

I need to wrap my head around re accumulation and distribution patterns