Sonata Software: Another Wyckoff Re-accumulation Candidate

Long

SONATA SOFTWARE (NSE:SONATSOFTW)

Updated

NSE:SONATSOFTW SONATA SOFTWARE

Price has been in a major trading-range aka re-accumulation (that is the hypothesis) in this case. Volume signature is supportive of accumulation. Let's wait and watch this one.

Comment:

The breakout has happened and the original hypothesis of a Wyckoff Re accumulation has been confirmed by the subsequent price action. Notice the drop in volume when price gets into a correction. A classic tennis ball kind of action, as described by Mark Minervini. Am holding this stock and would add more on fresh buy signal.

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