Post by
tamaracktop on Feb 07, 2023 11:34am
Looking for proof?
I've repeatedly posted my personal theory that the true measure of a stock's inherent strength can be guaged by how fast it recovers from a setback.
The "validity" of my theory is either enhanced or weakened by trading volumes.
The greater the volume on a recovery, the stronger the stock is.
The biggest volume day so far this year was on February 1st, when the stock traded 950,000 shares.
That's the biggest volume going back to November 28th, when the stock traded 1.5 million.
We'll get real confirmation of tremendous strength when we see a sharp move higher on record
or near-record volumes.
This will give us real, irrefutable evidence of interest on the buy side.
You'll never have more convincing proof served up on a platter.
With 350,000 shares having traded up untill 11:31, and with the stock last at $2.86, we aren't even close, but that surge in volume at 10:27 is probable evidence of institutional activity.
It's highly unlikely that a bunch of retail investors coincidentally spontaneously decided to buy bunch of stock at the same time.
That doesn't happen.
It may not necesarily have been institutional, but if not, somebody somewhere wanted a decent position.
There's more where that came from.
The days of big moves on record volumes are coming.
When they do, you'll have your proof.
Every shareholder of every stock likes a little reassurance now and then.
Comment by
PennyStockApp on Feb 07, 2023 12:29pm
Institutions will buy all day long at the ask ! Just my opinion though. Holding my shares long and strong....
Comment by
PennyStockApp on Feb 07, 2023 12:42pm
I predict a 12 month high tomorrow morning ? We shall see; just my thoughts....