The overwelming pressure of Sellers!
These charts have common features:
1-They are all Giant Tech companies! (except RBLX)
2- They have above-average price volume!
3- They had a bullish rally recently!
4- They start the day well but closed at the lowest daily trading price!
5- They are among the top 10 daily Price Volume leaders!
6- They made long upper shadows and some made a long bearish engulfing pattern!
Having said that Do not expect good days ahead for techs!
Corrections seem inevitable!
Best,
Moshkelgosha
DISCLAIMER
I’m not a certified financial planner/advisor, a certified financial analyst, an economist, a CPA, an accountant, or a lawyer. I’m not a finance professional through formal education. The contents on this site are for informational purposes only and do not constitute financial, accounting, or legal advice. I can’t promise that the information shared on my posts is appropriate for you or anyone else. By using this site, you agree to hold me harmless from any ramifications, financial or otherwise, that occur to you as a result of acting on information found on this site.
1-They are all Giant Tech companies! (except RBLX)
2- They have above-average price volume!
3- They had a bullish rally recently!
4- They start the day well but closed at the lowest daily trading price!
5- They are among the top 10 daily Price Volume leaders!
6- They made long upper shadows and some made a long bearish engulfing pattern!
Having said that Do not expect good days ahead for techs!
Corrections seem inevitable!
Best,
Moshkelgosha
DISCLAIMER
I’m not a certified financial planner/advisor, a certified financial analyst, an economist, a CPA, an accountant, or a lawyer. I’m not a finance professional through formal education. The contents on this site are for informational purposes only and do not constitute financial, accounting, or legal advice. I can’t promise that the information shared on my posts is appropriate for you or anyone else. By using this site, you agree to hold me harmless from any ramifications, financial or otherwise, that occur to you as a result of acting on information found on this site.
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