Momentum Pattern Prior to Monday 21% Price Rise
There has been much interest in the graph of “Gale” pharmaceutical stock shown a week ago for Friday, February 3, before its 21% rise on the following Monday. Its pattern may have omitted an unusual eighteen line momentum graph preceding that last rise after consecutive 23 and 32%price rises. Better merging and layering with high rate of change appear in this graph.
Please click on the graph to check three outstanding features of this new program:
- All eighteen lines are close to 90 degrees up, so we can surmise that the rates of internal change are the same, setting the stage for another price rise.
- Four green-red, largest symbol, volume spread type momentum lines virtually merge at the momentum pattern top. on Friday, the last graph day. The two large symbol, circles couple below, putting all six of the volume spreads at the pattern top.
- By clicking on the chart, page, and zoom command see the four, red-colored high type momentum lines couple at the pattern center.
- A layering of momentum lines occur, in which green-red, close-highs, volume spread types layer with the green-red, price spread type momentums with the sets of blue colored, lows appear lower in the pattern, showing that the close-highs are dominant, making continued price rises more likely.
Sorry that the earlier graph presentation did not show this excellent earlier pattern to the third very high price rise on the following Monday.
Herb Handy.. Studies of momentum line support for rising prices.
