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Skullcandy, Inc. Message Board

  • onepoint272 onepoint272 Feb 27, 2013 1:54 AM Flag

    Bullish Tuesday

    Price moved lower Tuesday but somebody was buying the move down. Who? The dumb money? No.
    They began marking it down Monday afternoon on light volume. When they got it down under 6.10 then the fear / volume came in. It sold down to 6.01 and they supported it and bounced it up to 6.10. Then they bought it the rest of the day. That first reaction off the low, up to 6.10 formed a trading range but was also important because the first reaction becomes support after a break above the TR and sure enough that held at the close. The break out above the TR was the highest 30-min volume of the day and the best price movement. That stick was real. The last 30 min stick had volume too, but had little price movement.....buyers. It didn't test 5.98 and I suppose it still could. But overall I'd say Tuesday looked bullish. I still think the February close will battle the 6.34 line.......2 more trading days to get it up there.

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6.34-0.01(-0.16%)Sep 27 4:00 PMEDT