easy · Volume Spread Analysis wyckoff-phases-schematics
A stock breaks out above a range. A few days later, it pulls back to the breakout level. The pullback occurs on very low volume, and the price closes in the middle.
How is this interpreted?
- As a 'Selling Climax' that will lead to an immediate crash.
- As 'No Demand' showing that the rally is over.
- As a 'Test of Breakout' confirming that old resistance has become support.
- As a sign that the breakout has failed and the stock is returning to its range.
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