when a large turnover of shares occur, those shares are transferred from weak hands to the hands of new holders, those new holders only purchase with one intention, to sell at a higher price then they paid i.e the intention of making a profit. The general body of these new holders will be reluctant to sell them at a loss and therefore by holding them this restricts the supply relative to the existing demand within the register giving a favorable Supply demand ratio.
Reducing Volume as the days progress will coincide with Reducing momentum, this likely will become evident by contracting price ranges of the price bars over the days which follow. If your intention is only a short term trade then at least wait for some substantial Technical signs that momentum is slowing. Its not wise to read too much into Intra-day noise.
Today by no means is a logical time to sell, quite the opposite.
WCU Price at posting:
39.0¢ Sentiment: LT Buy Disclosure: Held
