PINL:VLTAF - Post by User
Comment by
eebleron Jun 15, 2010 7:34pm
196 Views
Post# 17191999
RE: RE: Volume
RE: RE: VolumeYes - confirmation on the quasi-inverted hammer from yesterday. A nice solid bullish candle plus some other things moving up, or at least flattening out. It got a bit shaky around 2:00 p.m. today, but nice recovery into the close. More satisfying than normal given how the last 15 minutes of each day had been going for the last couple of weeks.
At this point it would be nice to see it get back above the 10-day moving average, and that should probably take care of seeing it get over the 20-day average as well. Right now it looks like major resistance around 1.23 and then 1.35. If it could get back to the 1.40 range before the 43-101, that would be a nice rebound from two days ago, and nice springboard for the news release. If I am right about there still being 16 holes to announce, I'm hoping that it comes out as two separate news releases.
tech19 mentioned that the OBV hadn't even really registered the drop, so that suggests that smart money is buying in. For anyone not familiar with OBV it is another trend indicator. If it is showing an uptrend it means volume is higher on days when prices are trending up. If price goes up at the same time, that is a healthy signal. If you are looking for more details, you can go to stockcharts.com and look it up there. For VTR, the OBV jumps at major news releases and then after settling down very quickly it stays pretty flat. If you have a charting tool and want to see a rising OBV, check out something like DGC or SMF, which are both on long-term uptrends. If you want to see one that more mirrors the recent drop in its price, then ARZ is a good example.
eebler