Hate To Rain On The Parade But Volume And A Price Spike Can Also Be A Sign Short Market Manipulation.
"(Volume precedes price movement.)" Can be both legitimate shorting an naked short positions being taken. Short funds are now heavily invested in ASTX. HFT Alogo trading does what it wants to in the short term. Only a major news event can stop them.
I think if ASTX can close above 4.58, the price will continue to move upward. However, failing the 4.58 resistance level could lead to a double top. Only time will show. The stock is well off its 50 and 200 SMA. I'm hoping the long weekend will bring out more long buyers come Monday.
Sadly just a few keystrokes to set the parameters for the Alogo's can make or break an investors day and his holdings. Then if you throw the Market Makers greedy manipulation into the mix it's a short term #$%$ shoot with horrible odds.