medium · Volume Price Analysis support-resistance
A stock is trading at a well-defined ceiling of $62.00. A candle pushes to an intraday high of $62.80 but closes at $61.50 on 2.3x average volume.
What is the interpretation and trade implication?
- Upthrust; enter short below the candle low
- Bullish Breakout; enter long on the close
- Successful Test of Demand; stay long
- Neutral Doji; wait for further signals
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