Ichimoku ANIP Gap and Crap?

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!

About the Author Manesh Patel