Watching to go long on the break of consolidation
In Brian Shannon's book he mentions the following sign for indication end of an accumulation phase:
o Higher lows
o Increased trading volume
o More frequent test of a key level of resistance
o Flattening to rising action of longer-term moving averages
In the above chart $CCOI seems to display higher low, frequent test of level of resistance, and flattening of longer-term moving average.
o Higher lows
o Increased trading volume
o More frequent test of a key level of resistance
o Flattening to rising action of longer-term moving averages
In the above chart $CCOI seems to display higher low, frequent test of level of resistance, and flattening of longer-term moving average.