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Merck's chart for mid-August. A brief run up started with Pipe Bottoms associated with Absorption bars (light blue oval). The 1st bar was associated with a VROC value of 244. The run-up resulted in a diamond with alot of Buying Pressure Bars. The middle of the diamond consisted of an upthrust followed by stopping volume associated with an AO drop (green to red). The second half of the diamond had low volume before an upthrust (associated with a Twin Peaks Signal on the AO) and downward trend-line breaker (purple oval) brought in Merck's price decline.
Stock trender - like your posts however the charts are really hard to read with all the indicators
ReplyDeleteSorry, but they are unrelated indicators that help paint the whole picture...I agree that sometimes it does look like a Jackson Pollack. If it could only be worth that much...
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