🟦 William O'Neil Rule – WALL OF BLUE
**Publishing again because it got taken down by Mods**
While this has pulled back recently - it reminds me of a lesson from the great trader William O'Neil and his lesson for the "WALL OF BLUE" 🟦
Not many know this rule, so hope you like it!
Wall of blue rule states that when you have 4+ weeks of blue volume bars (blue volume bars = volume when the week close up, hence up weeks), then this is a buy signal of itself.
In the case of
SMCI we also have above average volume - which is additional strength and confirmation.
This is a signal that the stock is under heavy accumulation from institutions and hence why it made +83% advancement.
Now it is pulling back and it is extended from any base - so I would not touch it here, but it is a good example to illustrate the rule
While this has pulled back recently - it reminds me of a lesson from the great trader William O'Neil and his lesson for the "WALL OF BLUE" 🟦
Not many know this rule, so hope you like it!
Wall of blue rule states that when you have 4+ weeks of blue volume bars (blue volume bars = volume when the week close up, hence up weeks), then this is a buy signal of itself.
In the case of
SMCI we also have above average volume - which is additional strength and confirmation.This is a signal that the stock is under heavy accumulation from institutions and hence why it made +83% advancement.
Now it is pulling back and it is extended from any base - so I would not touch it here, but it is a good example to illustrate the rule
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