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Would the upward bounce be based on FA or TA? TA isn't giving me...

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cowboycgt

569 Posts.

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04/11/15

22:56

Post #: 16327595
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Originally posted by exberliner1 ↑

The high volume sell down you speak of was not 100mn shares.

Looking at the Bloomberg chart for today the sell down as you call it started at 15:18 so was contained in the last 42 minutes plus the auction.

Volume during this last 42 minutes plus the auction was about 21 million.

The remaining volume was holding the share price steady in the .026 - .028 range so cannot be classed as a "sell down"

21 mn shares with an estimated VWAP of around 0.025 for the last 42 minutes plus auction would put a monetary value of about $500k on the sell off.

Compare that to the volume over the past few days and $500k does not represent a high volume sell down.

Yes it went down, yes the graph looks dramatic and will no doubt panic a few retailers into selling at any price.

A sell off of $500k of shares after the massive rise we have seen over the past few trading days is not that scary imo.

If it continues down from here on big volume from the open tomorrow then yes we may have a high volume sell down then but we certainly did not have one today.

I would more inclined to go for an upward bounce tomorrow especially with the investor marketing that is currently underway from RYG's CEO.

EB

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Would the upward bounce be based on FA or TA?
TA isn't giving me any indicators as to a buy in just yet.
I will be sitting and watching, need the trigger to go in hard. Gap was filled that's a start.

RYG Price at posting: 2.3¢ Sentiment: Hold Disclosure: Not Held
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0 Great analysis

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Would the upward bounce be based on FA or TA? TA isn't giving me...

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