Broadening Formation
Point of formation
Broadening Top formation appears much more frequently at tops than at bottoms. It is a difficult formation to trade in. Its formation usually has bearish implications.
Role of big players
It is a common saying that smart money is out of market in such formation and market is out of control. In its formation, most of the selling is completed in the early stage by big players and the participation is from general public in the later stage.
Price and volume
Price keeps on swinging unpredictably and one can't be sure where the next swing will end. Regarding the shares volume, it is very irregular and leaves no clue to the direction of the next move.
in Wikipedia
Broadening Top formation appears much more frequently at tops than at bottoms. It is a difficult formation to trade in. Its formation usually has bearish implications.
Role of big players
It is a common saying that smart money is out of market in such formation and market is out of control. In its formation, most of the selling is completed in the early stage by big players and the participation is from general public in the later stage.
Price and volume
Price keeps on swinging unpredictably and one can't be sure where the next swing will end. Regarding the shares volume, it is very irregular and leaves no clue to the direction of the next move.
in Wikipedia
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