ORIENTAL BANK - Triple Top Formation
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The stock has formed a doji on having a triple top formation.
Volumes in this stock has previously also failed to follow up with good rallies.
Can be looked to short below the trendline.
Volumes in this stock has previously also failed to follow up with good rallies.
Can be looked to short below the trendline.
Nota
The 15 min chart shows above average volume. Take this into consideration too.
Nota
Hence, go long in the case of breakout with good volumes.Nota
Volumes don't matter in this stock . Proven today again. Classic reversal from triple top and trendline has been broken. Unless it sustains above the line for a while, stock's weak. Shorting opportunity.Nota
Closing above the line. Not weak. No shorts.Nota
23 Mar : As suggeested , no shorts to be taken. It has given good follow through. Initiate longs, shows good signs of strength.Nota
Longs initiated have given 3 % gains today.Nota
7.5 % up today. That's great :)Nota
Lesson revisited : Volumes do matter as always.
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