$QQQB , this chart has been a bit frustrating today.
Price is around $728
A modest 1.0% rebound over 24h, but volume is weak
Analysis: There’s been a rebound, but volume hasn’t picked up. You can’t rush this kind of move. First, watch the 24h high at 731 and see if it can close above that level on strong volume. If it can’t, we’re still just moving around within the range. Then watch 717 below—so long as it holds, there’s no need to panic yet. I’m just waiting for two levels; if neither is reached, I won’t make a move. I’m ignoring this choppy stretch in between. Chasing a move on this kind of volume can easily get you burned in either direction. Are you holding a position or sitting on the sidelines right now?
Price is around $728
A modest 1.0% rebound over 24h, but volume is weak
Analysis: There’s been a rebound, but volume hasn’t picked up. You can’t rush this kind of move. First, watch the 24h high at 731 and see if it can close above that level on strong volume. If it can’t, we’re still just moving around within the range. Then watch 717 below—so long as it holds, there’s no need to panic yet. I’m just waiting for two levels; if neither is reached, I won’t make a move. I’m ignoring this choppy stretch in between. Chasing a move on this kind of volume can easily get you burned in either direction. Are you holding a position or sitting on the sidelines right now?