I'll call BreakOut based on:- Consolidation, shooting star, New Average volume Highs
- Others?
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RDDT: Feel free to comment. BO
- Thread starter Bad_Badness
- Start date
I'll call BreakOut based on:
It is sleeping.
It will continue to sleep for another few hours/days...
So let it sleep. BO
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take the last 20 bars ranges and do a summation of the ranges, divide that by the number of bars to come up with the average bar range. now take that range and add 35% and subtract 35% from it to make a buy / sell entry point.
ask questions if you want more info otherwise i will intrude no more.
ask questions if you want more info otherwise i will intrude no more.
@MarkBrown Never intruding! I like the range analysis. Along those lines if we see something with a larger range that is significant.
Today it is up near top of range. Like it wants to break out.
Interesting all the after the fact chart readers, just don't find this chart interesting. To me it is a classic set of patterns. Volume since Aug 6, the test, has been above average. To me that is significant.
Today it is up near top of range. Like it wants to break out.
Interesting all the after the fact chart readers, just don't find this chart interesting. To me it is a classic set of patterns. Volume since Aug 6, the test, has been above average. To me that is significant.
From a technical pov, that's on it's way down. Broke a major support. It's retracing some before continuing down.
From a fundamental pov, Reddit is a failed business model. They are a highly ideological site in terms of politics. Much if their user base are hardcore Leftists to the point of Marxism. They despise capitalism and hate authority. Put those together and you have a userbase that goes out of their way to thumb their nose at any gimmick or advertisement management attempts to push. Nobody pays attention to the paid promotion posts.
Their best bet only is selling their data.
From a fundamental pov, Reddit is a failed business model. They are a highly ideological site in terms of politics. Much if their user base are hardcore Leftists to the point of Marxism. They despise capitalism and hate authority. Put those together and you have a userbase that goes out of their way to thumb their nose at any gimmick or advertisement management attempts to push. Nobody pays attention to the paid promotion posts.
Their best bet only is selling their data.
to me everything is velocity - both price and volume -
ned davis said "don't fight the mo"
i say he should have completed the calculation and i say
"go with acceleration, avoid hesitation" - mark brown
more about ned davis
Key Points of "Don't Fight the 'Mo'":
- Momentum Investing: The strategy emphasizes following the direction of the market trend, which is often referred to as "momentum." In a market with strong momentum (either upward or downward), it's risky to bet against that trend. Instead, aligning trades with the direction of momentum is considered a safer approach.
- Avoiding Market Timing: By advising against "fighting the 'mo'," Ned Davis suggests that trying to time reversals (or bet against a strong trend) can be difficult and costly. This philosophy discourages going against the flow of the market in favor of riding the current trend.
- Application in Bull and Bear Markets: In bullish markets, traders are encouraged to remain long (or buy), while in bearish markets, they should avoid fighting the downtrend and either stay out or take short positions. Davis's research has shown that market momentum can last longer than many investors expect, which is why it's prudent to go with the trend rather than anticipating its reversal too soon.
- Market Psychology: Momentum often feeds on itself as more investors jump into the trend, pushing prices further in the same direction. This self-reinforcing cycle can lead to sustained moves that may last longer than expected.
- Technical Analysis: Many technical indicators, like moving averages, RSI, or MACD, are used to identify momentum in the markets. Following these indicators can help traders determine the current direction and strength of the trend.
Ned Davis's research has been instrumental in shaping many long-term investors' and traders' strategies by focusing on data-driven insights, and "Don't fight the 'mo'" remains one of his enduring pieces of advice.
Interesting call on the break down. I think it has taken too long to continue. So IMO it was in neutral and now getting UP momentum. If it wanted to break down it would have by now under that increased volume since Aug 6.
Fundamentally, I have no opinion relative to the stock trade.
Twice it has tried to break back into that $65 resistance. Once on the big red candle just after July 30, and the 2nd on the hangman candle 3rd from last. I predict one more attempt very soon before continuing back down, but that's just at a quick glance so who knows.
Also, look at the volume. Breakouts occur on increased volume. There is none. It's going to fall on its own weight.
I read the shooting star as an attempt to break out, getting pushed back, but weakening of the upper range. Everyone who wanted to get out in this range has done so. Meaning there is less resistance to the upside. A sly move up, imo.
This is an IPO remember, so there are different dynamics at play, imo
Check out TDOC. I see the same type of basing there.
Nice to have an ego-less thread....
How did you come up with 35% ?
Yeah looks slightly bullish. Can print 90-100$
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