VAN 0.00% 4.7¢ vango mining limited

accumulation day

  1. 3,413 Posts.
    On face value today appeared to be a 'nothing' day despite a couple of small ann's. However if one looks a little closer I believe there's more going on here than meets the eye.

    Yes in recent weeks we've had someone consistently reloading on the sell side (200k parcels) but today we had a sharp increase in volume with the SP really not going anywhere. Finally we finished with what could be considered an 'engineered' close thus creating the 'dragonfly doji'.

    If anyone had been watching closely the depth on the bid side literally evaporated in seconds. Hmmm this leads me to suspect that some games are afoot - accumulation folks is what I think?

    I've posted a chart, you'll note the volume spike as well as the slight upturn on the OBV (On Balance Volume) indicator which tends to confirm accumulation in light of the SP today. The MACD histogram is also decreasing, I guess tomorrow may confirm things for us?

    WC8

 
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