Chart is taken from Nextview along with market depth during the Wednesday afternoon of 2019-03-13. Vertical lines show the date with the corresponding candlestick.
There was a gap down on the 8th March 2019 with no real explanation following a bearish engulfing pattern alongside with increased volume.
Do you dare follow the price action and go short without knowing why the price behaves this way? Food for thought.
Come 11th March 2019 another opening gap down with much heavier volume sell down.
Check out the time stamp close to noon of 12th March 2019.
Now we know why the weakness in the share price. Obviously someone understood the impact of the information, inferred properly and took action before everyone else.
How much faith have you in price action signals?
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