Are you also thinking, “If a single line pulls up 21%, is this an opportunity or a trap?”
This pump from $PLAY rose from 0.03115 to 0.03786, with volume of 189M and turnover of 6.67M. The volume has clearly kept up—this isn’t a no-volume spike. But the price has already eaten up all the intraday downside, which means the room for people chasing has been squeezed. The stop-loss is set below 0.03115—if it breaks, that’s a trap line. First, see whether it can hold around 0.0421; then, if it holds, you can gamble for 0.0480.
Is it a real breakout or a pump to dump? We’ll know after the weekend closes its weekly candle.
#PLAY
This pump from $PLAY rose from 0.03115 to 0.03786, with volume of 189M and turnover of 6.67M. The volume has clearly kept up—this isn’t a no-volume spike. But the price has already eaten up all the intraday downside, which means the room for people chasing has been squeezed. The stop-loss is set below 0.03115—if it breaks, that’s a trap line. First, see whether it can hold around 0.0421; then, if it holds, you can gamble for 0.0480.
Is it a real breakout or a pump to dump? We’ll know after the weekend closes its weekly candle.
#PLAY