Time Techno stock price was stuck in a price range of 169-187 since past few trading sessions. On 23 Jan 2024, it broke down below this range to post a low of 162 and closed at 164. Within the next couple of days it reentered the previous range with a close at 176 yesterday. This apparently fake breakdown from a range and then an upmove taking it back into the range is often a shakeout move before another major upmove. In Wycoff’s methodology it is termed as SPRING. Confirmation of the pattern happens once stock price crosses and closes above the previous trading range, and the value for that in this case happens to be around 187-188. disc: invested.
For more details on Wycoff method, one needs to just google it and there is a lot of material available.
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