A quick look at using Volume Bars to find a Buy signal – the Simple Approach. Here is a Daily chart of $UA:
Here is the breakdown:
- Buy the 1st Green candle after 4 RED volume bars in a row
- 5 occurrences in this time-frame
- Use your trading process, exit strategy, stops
- It is forming a RED volume bar today, #4 in a row. Also the Hammer candle looks to finish forming as well – Trend Reversal signal
The 6th man, MELI (Mercadolibre Inc.), continues to come off the bench with flashes of greatness. However, it can not sustain a close above 100. Nonetheless, I will continue to trade the stock in hopes of a sustained move and hold of the 100 Roll.
UA (Under Armour Inc.) is the newest member having been added this week. Here is the updated list with comments: