any ideas what the ride going to be on Thursday?, page-6

sorry, but I would love to see your evidence for this!



All I see is that today was indicative of accumulation from many parties, as evidenced by the on-balance volume (OBV). Throughout today, the RSI did see some overbought levels, but they were swiftly backtested briefly before seeing new highs, which tells me that there is demand throughout these levels. In the RSI, it did not even go below 50%, which further suggests that demand is currently outweighing supply.

The Chaikin Money Flow, at times did show evidence of profit taking, but overall, not much as buying recommenced from 2pm onwards.



BPH finished the day with a solid 6.5x buy/sell imbalance, confirming the presence of a demand to accumulate BPH shares.

If we were to see a drop in SP, it would be prefaced with a sharp increase in the sell-volume, which would evidence the presence of a demand to sell BPH shares.

We haven't seen that yet, so I think we might actually not see the the back test to 17c because today we saw a failed backtest at 3.30pm and again at 3.55pm. Neither did we see the auction drive the price down.

This tells me that tomorrow, we will see a sustained move in the upwards trajectory, just from a technical perspective.

Now when you throw the context of BPH in the calendar with...

1) NOPTA Approval imminency
2) Developments with Cortical Dynamics

To mention the least, one might only imagine the pressure on the purchasing side to accumulate before the good news drops.