Chart analyst Carter Worth breaks down his most important technical indicator

Published On Oct 25, 2024, 8:59 AM

Carter Worth, a seasoned technical analyst, emphasizes the importance of volume in trading, arguing that it is more crucial than price action. He suggests that understanding the correlation between volume and price can enhance a trader's ability to identify patterns and make profitable decisions. Worth also discusses the beginning of his career and the necessity of having a defined time horizon in investment strategies.

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Stock Forecasts

SPYView SPY chart on TradingView

Positive

Given the focus on volume as a key indicator, investors might look for stocks that are seeing a notable increase in trading volume combined with positive price movement, suggesting a potential upward trend. Those stocks could present profitable opportunities if volume confirms price action.

SQQQView SQQQ chart on TradingView

Negative

Conversely, if a stock is experiencing high volume but its price is declining, it may indicate bearish sentiment and ongoing selling pressure. Investors should be cautious in such scenarios as it could lead to further declines.

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