CGG - A million dollars turnover in the first 40 minutes yesterday was pretty impressive for this company,
Price Breaks Out of Trading Range.....Trading Range = 10.5c-16c
On Balance Volume Confirms Break Out.
Volume Bars Increasing as Price Increases, Bullish Continuation Signal
Chart one hour after open yesterday
A finishing Close above 16c today would confirm the Breakout for End of Day Traders
Bottom indicator - Volume Bars:
Notice How volume dropped off when CGG moved into its Trading Range i.e as it enters into its consolidation phase.
High volume is noticeable in its Down Trend phase, high volume increasing now as it moves into its up trend Phase. Volume can be a sign of a company which is Trending, either down or Up. Low volume and low Directional movement can be a sign of steady Distribution or Accumulation before the Next price cycle.
AA
CGG - A million dollars turnover in the first 40 minutes...
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