Hey people, SONOCO PRODUCTS CO is in a bullish push with an exploding return of the traded buy volume and a sort of big hammer candle. The TIMEFRAME M1 shows us a marubozu with a low buy volume return issued as it heads up the equilibrium zone to test it. Great propability to breakout the price with the momentum at the same time the zone to arrive in another and...
An intraday high potential, Back Tested Sort Analysis.
We ll try to enter into the correction of the uptrend movement.
DETAILS ON THE CHART
NOTE: Entry range area above the entry point, is calculated upon 80% of the recorded pullback back tested past performances
DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money on.
Here is what I believe is happening.
SON is in a inv cup and handle pattern, with the initial handle under formation.
1. Its currently short term over bought
2. Initial Handle formation is in the process. It may be up to 30% of the cup and hit resistance at 50.00, though currently the stock seems to stabilize the current price.
3. currently the volume...
28.66% gain from Jan low is amazing but volume was Okay. Now, watch a possible print for 52wkh next few sessions or could easily retest 200DMA. Trade less, save more!
