ORIENTAL BANK - Triple Top Formation
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The stock has formed a doji on having a triple top formation.
Volumes in this stock has previously also failed to follow up with good rallies.
Can be looked to short below the trendline.
Volumes in this stock has previously also failed to follow up with good rallies.
Can be looked to short below the trendline.
Uwaga
The 15 min chart shows above average volume. Take this into consideration too.
Uwaga
Hence, go long in the case of breakout with good volumes.Uwaga
Volumes don't matter in this stock . Proven today again. Classic reversal from triple top and trendline has been broken. Unless it sustains above the line for a while, stock's weak. Shorting opportunity.Uwaga
Closing above the line. Not weak. No shorts.Uwaga
23 Mar : As suggeested , no shorts to be taken. It has given good follow through. Initiate longs, shows good signs of strength.Uwaga
Longs initiated have given 3 % gains today.Uwaga
7.5 % up today. That's great :)Uwaga
Lesson revisited : Volumes do matter as always.
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