Follow the money: $ELSA loses the 0.1 level
Clusters of stop-loss orders are usually sitting near price levels like this, and big players love to exploit them: they may dip below the level to trigger stops and then reclaim it, or follow through on the breakdown and drive the price lower. To tell the difference, watch which way trading near the level is skewed.
Clusters of stop-loss orders are usually sitting near price levels like this, and big players love to exploit them: they may dip below the level to trigger stops and then reclaim it, or follow through on the breakdown and drive the price lower. To tell the difference, watch which way trading near the level is skewed.