- the blue circle highlights a failed breakout attempt and notice the low volume 2 trading days before that huge gap down
- the most recent big volume spike seems to indicate distribution as volume was huge but the the stock went no where
- the purple cicle highlights a failure at the longest term uptrend line possible and the stock gapped down at the open and closed today under the 50-day moving average
- finally, notice how the stock is working its way "across" the red parallel uptrend lines and the stock keeps failing at these lines
at the time of composing this post, the asian markets were up... in my opinion, tomorrow is a wild card. the market attempted a bounce today, and to be honest, i was surprise at how short-lived it was. if the asian markets close strong, i imagine US markets will follow tomorrow, but of course there are no guarantees. i am hesitant to put up too many more charts right now - pretty much every stock on my watchlist is at a kind of cross roads, and it seems most of them will be looking to the overall markets to set the tone tomorrow.
otherwise, ENER and MEDI are worth keeping an eye on first thing tomorrow - if they open weak and make easily obtainable recent new lows on decent volume, they might be worth a trade.
