DislikedChris, I was wondering what your thoughts might be on this setup. It is in an uptrend, recently broke through old resistance on the weekly and has a bullish pin on the daily, off of support. The thing that really catches my eye is the volume spike. It seems to have plenty of support at this level. My concern is the overhead traffic at 22.75 and 23.00 where the 2nd to last swing high is. It is also inside the space between the MA(20) and MA(50) where I like to trade.Ignored
It probably is a buy signal....but I don't like the fact that it trades so few shares per day. Also, that weekly bar before would make me a little nervous. It probably would grind higher, but it's going to grind, and not move.....