There were about 371k shares traded today and about 42% of those were in the last 1/2 hour or 35% in the last 15 minutes, or 25% in the last 10 minutes.
Despite a high volume panic selling day in the general market, SKUL would not go down.
Clearly the selling has dried up. So, with no more sellers, demand still had to prove itself since there is supply (selling) in the background. It traded in a tight range between 8.34 and 8.40 and then in classic form, on the right side of its trading range, in the last 1/2 hour, executed a sign of strength (SOS) to a high of 8.57 with the last trade at 8.56 and a settled close of 8.47.
On a 30-minute basis that was the 2nd best volume in 5 days. Five trading days ago there was a stick which pushed down to $8.53 with 214k vs today's 154k. Not enough to get into and hold the range above 8.50 today, but it sets the stage for some cause building and then another attempt to break into the 8.50 to 9.00 range. It will be grand to one day see a sign of strength on a daily basis.
The most important aspect of today's trading though, was that the trading range (TR) was clearly an ACCUMULATION TR because of the SOS on the right hand side of the TR.
Also, it was encouraging to have put in a higher low today and to close above the day's pivot. The daily pivot for tomorrow remains the same as yesterday but the support pivots have moved up some.