$30,000 Millionaire said:
It's the number one thing I look at along with volume. Shows trend, how extended a move is, and how long since the stock has reverted to the mean, which everything does.
Ok 30k (and anyone else of course please chime in) got one for you to see if I am applying the bands correctly. I set up Keltner Channels at par 1, 2 & 3 and also have within the 8/21/50 EMA I just left from an earlier chart setup do disregard those dotted lines for now.
This is $VIAC and if applying the methodology correctly using the daily.....
We are ascending, bounced off the upper band a week ago, retraced and now bounced off the mean (2nd time in about 6 weeks), reclaimed the 8/21, confirming a bull flag for potential continuation with daily volume remaining increasing. Thoughts?
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11