DUK trade ideas
Looking for Move HigherBeen watching Duke for a bit, looking like it starting to move up. The 200 SMA is still in the way but its rising, maybe a good entry on a strong close above it for longer term play.
DUK - Bottom ?XLU - Bottoming, showing money coming in, typical for any RISK ON market. I am looking for a bullish play on DUK. At the same time, This marked TRENDLINE is the Most important price level for this chart. be nimble.
DUK POPSDistribution starting in June/May resulted in a 14% fall. Accumulation took over from June to July. I have noted the anomalies that indicate, to me, market maker and insider actions. They tried to move it up 4% before testing and found there was still a lot of selling going on. It still rose but didn't have the insider participation everyone needed to keep it going. I think the insiders decided to take it lower to knock out the rest of the public buyers, hence the sell off in August. More accumulation starting in August. I've again noted the anomalies between price action and volume. Today it popped over resistance on a broad based market move. Watch for a pull back to support and high base formation before it takes off again. I'm just saying.
