last Friday we had a low of $1.68 and since then, have moved (intraday bars) almost 10% straight up,
the first 60min bar of this morning was a very high volume upbar closing middle, ummmm
now all high volume upbars are frowned upon until they are either tested via the following low volume downbars (like yesterday mornings) or continue to plough higher
the action of this first bar closing middle is not nice, normally means that a bit of selling has taken place
actually it's the weakness looking 60min bar since those recent lows
we certainly do not want to see any low volume upbars following, which will most probably mean for the ST (intraday, maybe longer), weakness appearing
it will have to quiet down ie. retrace sometime and when it does hopefully it is on lowish volume bullish looking bars
LYC Price at posting:
$1.85 Sentiment: None Disclosure: Held
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