Long
Possible breakout to new All Time High from VCP characteristic
SWCH shows a possible setup to new ATH (all time high) from a VCP characteristic. It is a relatively new name (IPOed in 2017) and since 2019 showing some real strength - last few days look like a consolidation at the top - no pump and dump. Key level is 31.80. To make the picture look better - i am missing a below average volume - sadly it is above average - so caution is advised.
To train your eye - look back at 'cheat' VCP as we saw it back in March - and at that time we had nice volume compression.
So ... you can keep it on your radar - though as always MANAGE RISK!
To train your eye - look back at 'cheat' VCP as we saw it back in March - and at that time we had nice volume compression.
So ... you can keep it on your radar - though as always MANAGE RISK!
Note
if it holds ... todays price action could be considered as shakeout
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.