$INJ spent ten straight days closing above 7.4. Every dip got bought and the range looked solid.
Then on Nov 13 it ran up to 8.37 with a fat green candle, and I'm sure plenty of people took that as the breakout starting.
Next day it gave back everything. Closed at 6.81, the lowest daily close since Oct 8, on 28M volume which was the biggest day in two weeks. Low today 6.56, now sitting around 7.
Thing I keep relearning is one green candle proves nothing. A range takes days to build and one bad session can wipe it out. I'd rather wait for a second close that confirms than chase the first one.
Then on Nov 13 it ran up to 8.37 with a fat green candle, and I'm sure plenty of people took that as the breakout starting.
Next day it gave back everything. Closed at 6.81, the lowest daily close since Oct 8, on 28M volume which was the biggest day in two weeks. Low today 6.56, now sitting around 7.
Thing I keep relearning is one green candle proves nothing. A range takes days to build and one bad session can wipe it out. I'd rather wait for a second close that confirms than chase the first one.
