It's been stuck in this $9.75 to $10.10 trading range for going on 2 weeks. In looking at the daily charts over those two weeks, I see volume picked during periods when it was going up, and declined during periods when it was going down. Isn't this an indication that when it does break out of this range, it is more than likely it will break to the upside? Anyone with technical trading knowledge care to comment?
Thanks in advance.
Find a better chart. Two weeks ago this was just a little above $8. As far as which way it goes from here? Sideways. It just had a 30% run in the past month, as long as volume doesn't drop off I would imagine that it stays in this range. I do not think we are expecting any new news anytime soon, thus there seem to be no catalysts to the upside.
I stand corrected...and pleasantly surprised. Volume on this uphill is very impressive too. At first I thought it was a bunch of James Jimbo Jimmy Cramer lemmings doing the buying, but that recommendation is too far past for this momentum to still be from them. Normally Cramer is the Kiss of Death, not in this case. Giddy-Up!