Been doing a bit of charting tonight and I 've noticed a massive divergence between the SP and On Balance Volume has opened up from the week before xmas when the stock fell below 8c. Since then the SP has DRAMATICALLY underperformed, whilst the OBV has remained extremely steady at approx 750 mill. Usually the OBV would fall especially in a stock that has underperformed as badly as this counter has.
As OBV is a measure of the buying volume over the selling volume, this can only mean one thing......accumulation, and in this case on a pretty grand scale. I have posted a chart below to illustrate the divergence. The horizontal blue lines I have drawn show the movement down from the SP vs. the OBV, whilst the vertical line shows you the point in time that this accumulation started to take place, i.e. 3rd week in Dec 2015.
On a footnote, whilst I try other TA indicators from time to time, I find OBV by far and away the best indicator of medium term intentions.
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Last
3.2¢ |
Change
0.000(0.00%) |
Mkt cap ! $15.20M |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 215000 | 3.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
3.5¢ | 30000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 215000 | 0.030 |
2 | 100000 | 0.029 |
3 | 750000 | 0.025 |
1 | 1875000 | 0.021 |
1 | 1 | 0.020 |
Price($) | Vol. | No. |
---|---|---|
0.035 | 30000 | 1 |
0.041 | 123849 | 1 |
0.044 | 120000 | 2 |
0.046 | 21759 | 1 |
0.055 | 18399 | 2 |
Last trade - 16.12pm 13/09/2024 (20 minute delay) ? |
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