We notice there is a clear smart money campaign happened from accumulation (stage 1) followed by mark-up (stage 2) which is still persistent based on Builders FirstSource Inc Common weekly chart. With the evidence of Sign of Strength as iVSA chart above, smart money took two months, from Jan 2017 to Feb 2017, to accumulate. Builders FirstSource Inc Common broke through the resistance level in Feb 2017 with volume. Smart money continue to mark-up the price for more than 100% in just 3 months after the breakout. The actions by smart money have been spotted by the Green Arrow during the mark-up stage.
Builders FirstSource Inc Common reached maximum high and we can see great profit taking have take place with the Red Arrow in Aug 2017. Price continues to go up and not 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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