gnpx is going to give us a few ways to know we have reached the top.
1. A crack of an uptrend. When an uptrend cracks, sellers will start taking profits and another round of "Shorting" will move in, this can easily indicate a top.
2. A long upper shadow. The upper shadow, also known as the wick, is the vertical line that extends from the top of a candlestick's body to the highest price of a trading session. The length of the upper shadow, along with other candlestick components, can provide valuable information to traders and analysts about how and why a security performed during a given time frame. This usually indicates a sign of weakness on a stock!
3. A strong over extended move. What we mean by this is a very rapid move in a short amount of time with NO RED CANDLES at all. We understand GNPX is up over 1,000%, but usually "Tops" will be after a hard multi candle green spike before a strong reversal.
Comments