Friday, August 5, 2016

Acromec - A Stock to Watch with Market Depth

Studying the chart for Acromec, the stock look so bullish that it was able to rise in this downtrend of the overall market. The market sentiment looks bad but this counter looks bullish with a easy to read market depth which was crucial to spotting the up wave. See the circled area where the sellers are. I believe during those bars, the buy/sell Q flipped where the stock experienced some selling but infact it was more buying than selling. This was followed by some weak selling and there after, the stock just float and rose higher. I am really into studying buy/sell Q these days as it provides first hand info before stock about to trend up/down.

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Update: 5/8/2016, 9:38pm

Acromec just continued it's small uprise. See the min chart and see the buyers there.

Ronald K - Market Psychologist - A Stock Market Opportunist