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Hi Paddy thanks. I am keeping a keen eye on the chart you posted. Share price seems to be following the path indicated.
https://ibb.co/2Zywwyh
ATB MrEMC2
Top marks rosso!
I prefer the Swychoff Method. Stop monitoring the falling sp. Come back in late summer.
Early on in Phase B, the price swings tend to be wide and accompanied by high volume. As the professionals absorb the supply, however, the volume on downswings within the TR tends to diminish. When it appears that supply is likely to have been exhausted, the stock is ready for Phase C.
Phase C: It is in Phase C that the stock price goes through a decisive test of the remaining supply, allowing the âsmart moneyâ operators to ascertain whether the stock is ready to be marked up. As noted above, a spring is a price move below the support level of the TR (established in Phases A and B) that quickly reverses and moves back into the TR. It is an example of a bear trap because the drop below support appears to signal resumption of the downtrend. In reality, though, this marks the beginning of a new uptrend, trapping the late sellers (bears). In Wyckoff's method, a successful test of supply represented by a spring (or a shakeout) provides a high-probability trading opportunity. A low-volume spring (or a low-volume test of a shakeout) indicates that the stock is likely to be ready to move up, so this is a good time to initiate at least a partial long position.
If the wyckoff holds true this little bit I read could be relevant
Phase B: In Wyckoffian analysis, Phase B serves the function of âbuilding a causeâ for a new uptrend (see Wyckoff Law #2 â âCause and Effectâ). In Phase B, institutions and large professional interests are accumulating relatively low-priced inventory in anticipation of the next markup. The process of institutional accumulation may take a long time (sometimes a year or more) and involves purchasing shares at lower prices and checking advances in price with short sales. There are usually multiple STs during Phase B, as well as upthrust-type actions at the upper end of the TR. Overall, the large interests are net buyers of shares as the TR evolves, with the goal of acquiring as much of the remaining floating supply as possible. Institutional buying and selling imparts the characteristic up-and-down price action of the trading range.
If you read about a Wyckoff accumulation it is an accumulation over a few weeks or months and is sideways action
We have been in a long term down trend
Itâs certainly true that a lot of shares changed hands for very little effect o the price over the last few trading days. Could well be instos readying for a rise up and they have definitely held this price in check with shorts to allow them to accumulate.
I think charting is really useful when youâre aware of the stockâs asset as we are. Thanks for finding this Paddy
Not convinced. may help to understand the person who as written on the subject!!
Wyckoff implemented his methods of technical analysis of the financial markets (the study of charts showing movements of stock-prices and other data). He grew his wealth such that he eventually owned nine and a half acres and a mansion next door to the Hamptons estate of General Motors president Alfred Sloan in Great Neck, New York.
As Wyckoff became wealthier, he also became altruistic about the public's Wall Street experience. He turned his attention and passion to education, teaching, and in publishing exposĂ©s such as âBucket Shops and How to Avoid Themâ, which were run in New York's The Saturday Evening Post starting in 1922.
Not convinced
They can take it as low as they like for me but they will lose out on shares as I will keep sweeping up more. Great times ahead, imo!
Yes, for a long time now the sp has been managed downwards by short selling and other tricks of the trade to enable background accumulation, imo but blindingly obvious if you look through the daily trades. Itâll be interesting to see how Ggp share ownership has changed when the new month end figures come out eg on Morningstar. Will Blackrocks % be approaching the 3% TR1 declaration level?
Wow, Paddy, I don't know about similarities but that looks damn near identical to me
I'll second that thanks Paddy- and this serves as an excellent reminder of the amount of research that should be done by anyone if they are frightened into exiting at these levels- great things ahead IMVHO
Thanks paddy and a special thanks to Liam for is interview with Shaun.
If you have a spare 15-20 minutes this morning then have a read through this article about how the large institutional players can manipulate and influence share prices in stocks. GGP would have been largely free from this until it got into the position where it was understood what the prize at Havieron would eventually entail.
https://school.stockcharts.com/doku.php?id=market_analysis:the_wyckoff_method
Looking at the action over the past 18 months and overlaying it onto a typical Wychoff chart shows some very compelling similarities IMO but please DYOR.
https://ibb.co/2Zywwyh
ATB - Paddy