ORIENTAL BANK - Triple Top Formation
Diupdate
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.
Catatan
The 15 min chart shows above average volume. Take this into consideration too.
Catatan
Hence, go long in the case of breakout with good volumes.Catatan
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.Catatan
Closing above the line. Not weak. No shorts.Catatan
23 Mar : As suggeested , no shorts to be taken. It has given good follow through. Initiate longs, shows good signs of strength.Catatan
Longs initiated have given 3 % gains today.Catatan
7.5 % up today. That's great :)Catatan
Lesson revisited : Volumes do matter as always.
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