$SLVM – WATCH UPDATE: Wait for Pivot Volume


Per the last post, I was waiting to see if it broke down out of the current up channel and formed a 4th contraction. So far, that appears to be happening. You can see how it broke out of the transition range on big volume, but then failed a few days later. That fail looks like the 4th contraction, which is currently retesting that breakout, the 20-day MA and the down channel support all at the same time. However, it is still in its down channel. If I can get some pivot volume around here, I’ll start a position.

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