Douglas Lake Minerals Inc DLKM

RE: Under Accumulation, 34 Cents Key

[tobinator01]

The accumulation is clearly evident from On Balance Volume. On Balance Volume is essentially the up tick volume minus the down tick volume. It's an indicator of how eager market players are willing to pay the ask or sell the bid. What we are seeing is that despite the stock weakness here, most trades are occuring coming up to the ask. What can be considered very bearish is to have stock price action like Douglas has had where OBV is correspondingly negative i.e. players are not waiting for buyer to come to them but they want to dump to what the buyer wants. In the technical arena, the positive OBV is a bullish divergence with the price. Often times, OBV divergence precedes upwards movement in price.

Douglas Chart,
https://stockcharts.com/h-sc/ui?s=DLKM&p=D&yr=0&mn=5&dy=0&id=p78904448923&a=141407390&listNum=3