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Registered User
Joined: 1/2/2005
Posts: 21
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Anyone looked at this stock?
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Registered User
Joined: 3/21/2006
Posts: 4,308
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Looks to me like this is running right into some strong resistance from January. Also volume has droped off some.
On the good side Money stream looks strong. The test will come in the next couple of days when we see how price deals with said resistance.
(IMO)
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Registered User
Joined: 1/2/2005
Posts: 21
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Volume is almost 4 times heavier than in January.
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Registered User
Joined: 3/21/2006
Posts: 4,308
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What does that have to do with anything? Price was consolidating in January. The decline in volume that I am refering to is based on the current rally, wich in my opinion is losing momentum.
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Registered User
Joined: 1/2/2005
Posts: 21
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Take another look. Volume has everything to do with price.
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Registered User
Joined: 3/21/2006
Posts: 4,308
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Kell50, I am completely aware that volume has everything to do with price.
My question of you is, what does January's low volume levels have to do with the declining volume durring this current rally?
You state that the volume levels are 4 times greater now then they were in January and I say (how does January's volume level affect price now)?
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Registered User
Joined: 3/21/2006
Posts: 4,308
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On volume plot a 20 day LR line. See how it is declining. I am saying that this current rally will fail because of the declining volume levels.
Because of the fact that volume increased durring this rally over the volume levels in January does not mean that the rally will continue inspite of the deminishing volume currently.
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Registered User
Joined: 1/2/2005
Posts: 21
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I only said that volume on this rally is almost 4 times hravier than in January. I don't think volume in January has anything to do with price now. Volume today was more than it has been in the last three weeks and it broke out of a consolidation on that heavy volume and on a daily chart is increasing.
On a weekly it is decreasing. But the moneystream is rocking on a daily or a weekly.
Volume usually goes down during a consolidation.
You are correct that there is overhead resistance from January. In my opinion the volume now coupled with money stream could push it through that resistance after which it shoul consolidate again. Only time will tell.
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Registered User
Joined: 1/2/2005
Posts: 21
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Volume was actually 6,787,100. Use that volume and see how it looks.
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Registered User
Joined: 3/21/2006
Posts: 4,308
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Kell, Now your case does look better then it did earlier to me, now that I have updated the final info. I think that we are on the same page now. Volume was good today and if it continues to increase then that might give you the push that you need to break that resistance level.
Good luck.
Apsll.
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Registered User
Joined: 1/2/2005
Posts: 21
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Thanks for your help and sharing your observations.
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