Ichimoku ANIP Gap and Crap?
ANIP Ani Pharmaceuticals gapped up over 10% of news this morning. Here is the current daily chart.
Here is the weekly chart:
The problem with the huge gap is that it gaped straight into the Daily/Weekly major resistance. This now has a potential of “gap and crap” i.e. reversing. Everything now depends on the multiple time frame support established on the lower time frames. If the MTF support holds, price will have a high probability to getting back to the MTF resistance. If it the MTF support breaks, it will have a high probability of filling the gap.
Here is the 10m MTF supprot chart:
Here is the 30m mtf support
Lets the markets tell you what they want to do and then you setup for the trade. This is how success is achieved!