We notice there is a clear smart money campaign happened from accumulation (stage 1) followed by mark-up (stage 2) and now probably in distribution (stage 3) based on Food Empire Holding Ltd weekly chart. With the evidence of Sign of Strength as iVSA chart above, smart money took more than a year, from Jan 2016 to Nov 2016, to accumulate. Food Empire Holdings Ltd broke through the resistance level in Nov 2016 with volume. Smart money continue to mark-up the price for more than 25% in just 4 months after the breakout. The actions by smart money have been spotted by the Green Arrow during the mark-up stage.
Food Empire Holdings Ltd reached minimum high and we can see slight profit taking have take place with the Red Arrow in March 2017 and followed by 2nd & 3rd Red Arrow in Aug & Oct 2017. Price plunges slightly and now moving sideways since the Red Arrow appeared. We prefer to wait for more Sign of Strength to ensure the smart money continue to participate on the uptrend.
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