The buying pattern in GALE over the past week has been one of gradual institutional buying. There has been a sudden increase in share volume and the price trend has been to the upside. This is a microcap stock and any concentrated buying by a large institution will dramatically push up the shares. Therefore in order to avoid a huge price rise while they are accumulating, they sequence their buys. This is why there have been several days of high volume. They are accumulating shares and trying to avoid a large price dislocation.They buy, the price rises, then they stop and some profit taking occurs. Then on another day, they buy some more and the same pattern emerges. Today's volume is already close to 2x normal by 1 pm. The trend indicates a strongly positive bias. Look for additional high volume days over the next few weeks as these institutions accumulate shares to their targeted allocation goal. The technicals say this stock is going higher from here.
most of the SP increase happened this morning when vol was at it's highest. If the SP shot up too fast there would be too much completion for cheaper shares. New interest happened last week with a slight pullback and now up and onward.