Jun. 24 at 6:23 PM
$ARDX Yep..... up to the "head bumping zone" (
$6.35 to 6.44) then drop on down, retesting the area of test the 50% line of Monday's 24-hr range! Sideway Dancing..... on the 15-min chart I can see how the price checked back with the 200 SMA dipping down to the
$5.75 level, the progressed up into the current working zone. Running now, in the same zone as we did back the last two weeks of May!
As I study it all, you can seen then, that in Mid April we reached up to this same level, then tested back into the "BOX" (
$5.65 Dip) then up to test higher (
$7.47).... before then dipping through the BOX (lower side!
$5.31) . This whole three month process is know as a RANGE EXPANSION, typically, an indication of accumulation by someone, be it Bears or Bulls....LOL
Waiting it see the long term pattern.... working the daily runs to my preferred direction... study the progress in price to identify the the next wave.... catch the rising tides and avoid the undertows!
Stay safe!
CHEERS!
