A Tale of two Sell Offs POST IPO analysis
A look at the two largest sell offs in the opening day gives us some data (with decent volume) on market structure.
Only recently have we seen a little buying support around $29-$30, but not nearly enough to consider significant accumulation.
Accumulation could happen in the lower range between $28 - $30 going forward, with the significant possibility of a breakdown and accumulation under 28$ before going to new highs.
Look for a 3rd wave of sell offs with volume, to find the range for more accumulation
Only recently have we seen a little buying support around $29-$30, but not nearly enough to consider significant accumulation.
Accumulation could happen in the lower range between $28 - $30 going forward, with the significant possibility of a breakdown and accumulation under 28$ before going to new highs.
Look for a 3rd wave of sell offs with volume, to find the range for more accumulation
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