Jun. 25 at 2:14 AM
One important aspect of technical analysis in stock trading is “looking left,” or assessing past price and volume patterns and action to help determine what a stock might do next, as stocks tend to repeat or at least echo past patterns.
Looking left on
$MLGO reveals a somewhat similar double bottom as MLGO is now exhibiting, back on February 12 to 20. Back then, MLGO dropped 5% below its double bottom on Feb. 20 in a tried and true Wyckoff pattern, before rocketing up 453% the next day on Feb. 21.
MLGO might do that again Wednesday here, or it might rise from its present double bottom. If you’re interested in this stock, be ready for either possibility — to possibly buy at day’s end if MLGO “Wyckoffs down”, or maybe buy during or after the first half hour if it moves up. It’s what I’m ready to do with an additional position.
With a Bullish Engulfing Candle on a just right 3 million shares volume,
$HSDT also looks poised to begin an upswing.
Watching both.
