There was a bit of excitement on the HCH board today. Someone described it as "a big day". There is speculation of a leaky ship regarding a potential streaming deal. The chart isn't screaming stampeding buffalo just yet however. It might be more a case of buy the rumour... (you know what comes next).
Even with one trading day to go in the week, unless tomorrow is a belter of a day, volume on the weekly chart is continuing to fall.
On the daily chart, today's trading is not out of the normal in terms of price spread and volume. We have seen bigger leaps in price and volume on a daily basis during this consolidation phase. What is exciting is we appear to be breaking out of the wedge; but markets are volatile and there is a lot of volatility in stock prices even though the market overall seems to be directionless at the moment and today was there was a bounce across the market.
What is also encouraging is the 200 day moving average is on the cusp of pointing upward.
