Hi Reid,
Yes, I cannot deny that reversal candle, and it does come after 4 consecutive white candles.
But click open the other technicals.... there is not yet any kind of hint of reversal in Williams, PROC, OBV, or RSI. Also, there is evidence in the volume patterns of supportive volume, particularly in the last hour or two of trading today--- during the afternoon, the initial post-lunch move was down, but that was met with the sharpest volume on the day, and that turned ISLE back up.
Maybe you are right, and ISLE will reverse in the short term. Certainly, volume has been unimpressive. But I still think those BBs have got to be expanded, and the longer they remain contracted, the stronger the "pressure."
That said, I don't see how ISLE can push open the BBs until more volume develops.
However it turns out, it will be interesting and instructive I think. Definitely worth following (I never did take a long position).
T |
