hard · Volume Price Analysis wyckoff-laws
An equity has traded within a well-defined horizontal congestion zone between $82 and $88 for a period of five months. After a successful low-volume test of supply, the price breaks above $88 with a wide-spread bullish candle on ultra-high volume.
According to the Law of Cause and Effect, what is the most conservative initial price objective for this markup phase?
- $112
- $89
- $94
- $106
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