Carimin daily chart shown 1st Sign of Weakness on 12 December 2018 after the breakout (18 Line Change signal) with +43% gained. We are expecting the stock to reverse after the Up-Thrust with high volume. The subsequent bars didn’t close lower and forming a narrow spread with low volume. Narrow spread bars with low volume is a sign of strength according to Volume Spread Analysis.
Based on the current chart pattern, we notice Carimin is forming a re-accumulation stage. Smart Money tend to test potential seller or supply in this period. We’re expecting the price for Carimin to move sideways and form a shakeout bar (Spring) at the support level.
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This information only serves as reference information and does not constitute a buy or sell call. Conduct your own research and assessment before deciding to buy or sell any stock
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