stock at crucial support

24 thg 1

Many stocks have this set up ,where the stock is back to the previous highs which is now acting as support. Here the 609 is the crucial support. The lows made has heavy volume on the intraday charts. A stock generally doesn't bottom on high volume. Hence we will have to watch the 609 zone. A close below that will open the room for a bigger correction and a fresh sell should be initiated.