GREY:XEBEQ - Post by User
Post by
tamaracktopon Dec 03, 2020 2:47pm
259 Views
Post# 32030116
What a curious drop in volume
What a curious drop in volumeMore than half of today's volume came in the first hour. In fact, Xebec hit its high today only 40 minutes in to the session, Since then, the trading volume has died.
That intitial burst at the opening definitely happened for a reason. In brokerage jargon we call that an Opening Spurt. Whatever the reason, that reason hasn't gone away, and there definitely was a reason for it. News after the close perhaps?, or maybe before the market opens tomorrow? Who knows.
I'm not suggesting it's relevant, but nevertheless, remember Xebec's last secondary was announced after the close on a Thursday,
In the interim, the trading so far today has been quite normal. It might only be considered abnormal by virtue of the fact that you wouldn't know by watching the trades going through that it's trading very comfortably here, at levels well in to new highs. This is a major positive.
It's a pretty wild guess, but I wouldn't be at all surprised to see another spurt towards the close. The elusive kind that I always talk about but never happens. We haven't seen one of the kind I've been talking about yet. Some buyers wanted in badly first thing in the morning. They wanted this stock today.
If ths stock is trading anywhere near the mid $6.30's in the last twenty minutes or so, I'd put money on a last closing burst. A Spurt to new highs even. It won't happen without volume, but if we do get real volume, and I mean real volume, it won't be on the sell side.