On a closing basis, 4 -> 4.30is is probably the heaviest level of resistance, there are quite a few "tails / spikes" in the higher area's but since prices did not linger very long at those levels, they become less of a factor, for either resistance or support. I have to remind those that are reading, the resistance levels which were valid (in previous price action) no longer have the same "weight", the reason being the stock at that time was trading in a confined range, bouncing off support and resistance like a ping pong ball, but we have broken out of this prison...all bets are off now. I like the slow steady build too, but I think now this stock could explode at any time, I'm talking about several pts per day not nickels and dimes. This is not a pump just an opinion based on other stocks with similar patterns. You are correct that too fast a climb leaves us all susceptible to severe correction, so I am content with steady climb and consolidtion., the big caveat is if ER is a HUGE Blow-Out, will not be able to keep the stock from moon shooting, this will turn into a buying frenzy.
good post and I concur. Money flow has been rising steadily for the last 2.5 years. Equally as important is the fact we closed above a 3 yr (resistant) trendline. This trendline which originated from the 10.99 high was significant in pinning down price action, there is still pockets of resistance but these horizontal levels are not as meaningful as the descending T.L. Its pretty much blue sky from here.
never heard of this type of signal, but market makers are known to hold down a stock for example if they have a big client who wants to load up at a particular price with signficant shares, the stock will flatline until order is filled...if market is very liquid w/high volume, this is much more difficult to do. At the end of the day, MM has to be square on all his trades. I only use price action to enter / exit a trade.