hi MK,
URL on the 02/03/2007 had huge volume (20,804,172), in fact it almost beat its record volume of 24,093,304.
Had I been holding URL at the time I would have sold simply due to the gap up on open. Just one of my own trading rules.
I don't think there is any way for you or I to ascertain if the sudden interest in a stock is valid or manufactured but like I said, if you get it wrong have tight stops on your initial entry.
Pump and dumps are a rarity.
We all know charts are historical and many "chart experts" find it very easy to read and iterpret the left hand side of a chart.
I have yet to meet a chartist who can read the right hand side.
URL was already in downtrend before the 02/03 with lower lows and lower highs.
It's not one I would have bought simply because of the gap on that day.
Nearly all gaps result in profit taking followed by a decline in the SPP and ultimately the gap is filled.
What I can say is that volume trading works for me well over 90% of the time.
But each to their own.
Cheers
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Open | High | Low | Value | Volume |
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Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
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1 | 946 | 65.190 |
1 | 31 | 65.180 |
1 | 93 | 65.150 |
1 | 45 | 65.140 |
Price($) | Vol. | No. |
---|---|---|
65.250 | 15 | 1 |
65.340 | 15 | 1 |
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