Anyone who traded this out of the bowl at 11p has done very well. A remarkable move.
But that enormous volume spike on Friday is what really caught my eye. 7.2 times the average, with a trading value of around £15m passing through. That is not normal activity for a stock of this size.
Here’s the question. With that amount of volume behind it, why didn’t the price make a new high? It should have. The effort was there but the result wasn’t. That is a classic price and volume anomaly, and in Wyckoff terms it points to one thing, someone is using all of that buying activity as an opportunity to quietly unload a very large position into the crowd.
Don’t fight the crowd, they say. True. But when someone leaves a footprint that size at a resistance level, it’s hard to look the other way.
I wouldn’t be opening a position here just yet. A pullback towards 28p-30p wouldn’t surprise me at all, and that might be the more sensible entry if the story still stacks up then.
But that enormous volume spike on Friday is what really caught my eye. 7.2 times the average, with a trading value of around £15m passing through. That is not normal activity for a stock of this size.
Here’s the question. With that amount of volume behind it, why didn’t the price make a new high? It should have. The effort was there but the result wasn’t. That is a classic price and volume anomaly, and in Wyckoff terms it points to one thing, someone is using all of that buying activity as an opportunity to quietly unload a very large position into the crowd.
Don’t fight the crowd, they say. True. But when someone leaves a footprint that size at a resistance level, it’s hard to look the other way.
I wouldn’t be opening a position here just yet. A pullback towards 28p-30p wouldn’t surprise me at all, and that might be the more sensible entry if the story still stacks up then.
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.