easy · Volume Spread Analysis climaxes-tests-springs-upthrusts

In a distribution phase, the price pushes above the range high to trigger buy-stops and then immediately collapses to close back inside the range. This 'Upthrust After Distribution' (UTAD) signifies:

  1. A bullish breakout supported by high demand
  2. The retail herd is panicking and selling their holdings
  3. A sign of strength indicating accumulation is nearly finished
  4. The final completion of distribution before a mark-down

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