Unusual to see the same close on 4 successive trading days. Looking back at the congested price action from early March it wouldn't be too outlandish to draw a conclusion that there could still be some supply to be dealt with.
The steady growth in volume over the past 7 trading days is positive, particularly with 5 successive days of green. Hoping for some follow through on Tuesday but there wasn't enough volume to sustain the momentum from Friday. I find it difficult to contemplate that this arm wrestle will just meander along, something usually snaps one way or the other when the SP becomes congested like this. I still feel somewhat more bullish than bearish in the circumstances taking into account the preceding solid bullish activty on Thursday and Friday last week.
Daily COB May 24th
Ann: Key Organisational Changes showcasing Alexium's Growth., page-141
-
- There are more pages in this discussion • 34 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
