Normal reaction or reversal ...

stargazer said:

Hi
The link takes you to the chart
https://www.aussiestockforums.com/forums/attachment.php?attachmentid=21461&d=1212654492

Cheers
SG

Click to expand...

Wow I havent had a look at this for a while.
The next 2 days saw a strong rise in volume but no movement on price.
Indicating a capping on price with strong supply.
There has been no real volume since. Note the other 2 volume spikes previously with little follow through. Both at around the same level.

So inconclusive at this time likely distribution.
The alert was an alert and the following price action would have told me atleast that it was unlikely to press forward. A stop at the low would have not taken you out. But by now youd surely have the idea that things are not ready YET. The lack of volume in this consolidation indicates that both buyers and sellers are at an impass---best left alone until a clearer picture is aparent.

FLX has now tested the high at $17.98 (7th) and is coming off a bit to test the low at $16.67 on the (7th.)---120 min bars.
So I'm setup with a conditional buy which hasnt been triggered.

Another one I'm watching.

Checkout the exhaustive volume on COK 120 min bars.
You can tell its exhaustive as there was no more selling price was free to rise.
Noyioce also the testing of the exhaustive low.
Very common.Also notice price is now ranging in the same area it did before 87c ish.
You'll need to look at an expanded daily to see this.

I am new to this game so forgive me for any misnomers.

I was reading the proposed method for spying a reversal (see above posts) and I had a look at LLC.

I do not know how to post a chart so will try to describe what I see.

LLC has been in a fairly long down trend and has got to levels which it has not seen since 2003. I know that doesn't really mean anything but I noticed after reading this forum that on the 19th June you had a relatively high volume day while hitting new lows with subsequent days of higher volume and less range culminating with another high volume day on the 26th and a marginally lower low - although basically moving sideways (possible start of base). Since then, volumes have got lower and lower as it tested marginally lower lows. The stock has also had a couple of up days with larger range but still low volume.

This same sort of patterning happened around the 4th March and was followed by a $2 jump in the stock.

My question to you more educated than I is - Is LLC showing signs of a reversal??

I do hold some LLC but very few, and was possibly looking to add.

LLC Obvious supply I'm afraid.
I'm not seeing any basing.
Sideways is my opinion.