Here is a situation that the literature say: that do not buy at resistance apart of that I do not use a mechanical system for determine the direction of the market or for picking stocks I use moving averages but I interpret they based in my discretion and now I can appreciate a trending price and if I watch back in the time in march 2016 and more recently in October 2017 the two past attempts of the price for overcome the 6.00 level they had more to do with a volatility environment that with the intention that price start to show some recognized behavior for this reason when I look that the moving averages are becoming more spacing and have some inclination plus a new succession of higher lows immediately my bias become bullish.
But my ideas are always about a breakout resistance and in this case this has not happened yet but this is how it happens because I've seen it in the past and then now I assume that this time it's going to happen based in my discretion and this is the difference between a mechanical system.
By the way look the volume spikes back in the time in 2016 and 2017 I interpret like a managers with high fundamentals bought large numbers of this stock and they hold for years and now the price are reacting.
That is all
But my ideas are always about a breakout resistance and in this case this has not happened yet but this is how it happens because I've seen it in the past and then now I assume that this time it's going to happen based in my discretion and this is the difference between a mechanical system.
By the way look the volume spikes back in the time in 2016 and 2017 I interpret like a managers with high fundamentals bought large numbers of this stock and they hold for years and now the price are reacting.
That is all