I have found an ascending scallop in another counter – NOL (N03.SI). Read the previous post on description of an ascending scallop pattern. I think this pattern is not favourable for a trade though, so I would just take it as an observation in the days ahead. The breakout day, a doji candle with high volume, is not very convincing. A better looking candle would be more encouraging, such as a marubozu. Furthermore, I do not see U-shaped volume. In the “J”, volume is descending. Anyway, I will just watch how this counter trades in the days ahead. My upward target is the $2.15 region, testing previous highs.
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