Dear sir, regarding the PFC question asked above, there are 3 almost same tops visible, and another 2 similar tops. So the price couldn’t move up beyond those highs, how does this happen?
Do all the buyers who want to buy know about the fundamentals of the business, know about earnings and future profits, so they did not want to buy at higher prices than those highs, and with stocks like these, a PSU, who want to buy are buying with good knowledge and will not beyond the previous highs, they are that particular, so price fails to move despite multiple attempts? What about non-PSUs?
I am of the opinion that not all buyers in every stock are that aware of valuations, such that they will not bid beyond a price, so even if such investors exist, they are less in number, and the majority of buyers are concerned about the price they pay, so price fails to move beyond a level.
I may have digressed, my question is sir, why and how these tops are formed, almost precise?
And the above member’s question is I guess an extension to my question, if indeed such tops are broken, with such volume, what does that mean?
Thank you.
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