SSN is continuing to move through the upper channel of the fork. Should see a bounce off 6.7/6.6 to remain in this channel and continue the pattern. Fundamentals (such as a company announcement)early next week should confirm a channel bounce or see a break of support.
OBV - is continuing to move in an upwards direction (white line). I have drawn in yellow lines showing the step ladder direction increasing.
"What Does On-Balance Volume - OBV Mean?
A method used in technical analysis to detect momentum, the calculation of which relates volume to price change.
OBV provides a running total of volume and shows whether this volume is flowing in or out of a given security.
Traders will use an upward sloping OBV to confirm an uptrend, while a downward sloping OBV is used to confirm a downtrend.
Finding a downward sloping OBV while the price of an asset is trending upward can be used to suggest that the "smart" traders are starting to exit their positions and that a shift in trend may be coming."
So although I know that some holders are frustrated with the sp, it is clear that SSN continues to be accumulated. By who and why? I assume it's by investors who can see the growth potential, even at the current sp.
SSN Price at posting:
6.7¢ Sentiment: None Disclosure: Held