META: Entering into blue sky zone with powerful buyers !What a chart to have complete study on gaps.
1. Pro gap: 12% gap up with strong candle with volumes. See the chart on 2nd Feb when Buyers are completely in control and after that the price continued to go up further 17% from there.
2. Profit booking: There was a decent correction of 10% until we that big gap down.
3. Gap filled: 15% gap down on April 25 where sellers tried to show their presence and threatened the buyers that created the gap on 2nd Feb.
Now watching carefully, the gap was nearly filled but then came the buying with another big green candle and with huge volumes.
4. Rally and fresh breakout: Now we see the new breakout on chart with buyers in control.
However, given the straight rally the risk reward could be little unfavourable. But it still looks like a great chart to read.
