As far as TA indicators go, I find the limit book volume around the current trade price to be one of the most reliable, especially for smaller caps. Of course its never to be taken as an indicator on its own.
Smaller caps are popular with traders so when they buy to make a trade they will like to signal the price upwards by loading the standing order buy side. This encourages other traders to follow with the same, as well as investors to move up their own bids, and I find that the SP often follows soon after. Similar but opposite for selling.
TA discussion, page-4675
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