Normally, when the price is in the way of moving up, it should have some middle term of short term retracement to reduce the profit-taking pressure and regain the buying power from the market.
But for this counter, the price surged to the the extrem high price level without a break, so when it started retracement, we should consider the extrem low point as shown in the chart for "hit and run" strategy..
Volume is very important for the retracement, make sure there is not much volume during retracement.
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