IAA.AX ETF @ CRISPY POTATO
THE COMBINED PROBABILITY OF FOR APRIL 2022 = BEAR (Week 1 Bull)
WEEK
The probability for the next week is BULL
Week 1 of March produced a Bear candle with almost no tails, indicating a lack of support to reject lower prices. In week 2 the Bulls engaged and offered support for the week, it was a tug of war as the Bull and Bears took prices on either side, this produced the tails and resulted in a spinning top of indecision Volume was highest this week across the month. Week 3 produce another Bear candle but it did gap open higher, and as gaps do, they always close the gap. Volume on this day was low. In week 4 a Doji was produced. Volume matched week 3. The month of March was a month of indecision. The Sellers want to leverage the decent Bear rally and keep the momentum going but the Buyers have offered some resistance.
The angle of the last rally was steep, the price stalled at a previous point of support (back in 2020 April)
The OBV does not align with the trend. It shows the recent low price did not return to the same low in the OBV, this may indicate the end of the downward motion, or more sideway movement to come.
PROBABILITY FOR APRIL = BEAR
This month produced a large Bear candle, decent body but with a tail that was approx 125% of the body. Volume increased significantly approx double from Feb. This indicates momentum is with the Bears, but not the Bulls are not yet prepared to keep the price that low. This probability of this next month is Bear.
