I was observing new age beverages corp when it was having it's bullish signal last Monday. The stock was sold down for many months when finally there was a COB with some small selling and then it formed the 2nd COB which was the key to a superb breakout. That was the bullish signal I was looking for while the next 2-3 days were just results of the bullish signal at the bottom. Soon, smart money came in with high volume and some good news released where the price shot up 3 fold with an extremely charged spike, speed and power.
In the 5 minute chart, it was clearer where to look to lock in profits. The gap up together with the sporadictivity increases, it's time that smart money left the stock temporary and shifted to another stock. Profit taking occurred where smart money lock in profits and some small distribution up happened before the stock retaliated and plummet down. I am watching for the next long entry point when it's ready to turn.
Ronald K - A Game Changer
