RE:High Volume but Narrow RangeVery unusual volume indeed. In fact it's been double the average volume the past 2 days with very little price movement. IMO this is accumulation and this stock is getting ready to move upward.
This little bit of info might be useful:
Accumulation and distribution indicate who is in control of the market and often signal a reversal.
Trading ranges represent longer term accumulation or distribution.
Accumulation is when the market is controlled by buyers.
A down-trend that stalls while volume remains high signals that accumulation is taking place. Sellers have lost control to buyers and a reversal is likely.
An Accumulation Day occurs when either:
- Volume increases (compared to yesterday) and closing price moves higher, or
- After trending downwards, there is little or no price movement and an increase in volume.
Source: Incredible charts