The size of the trades were in blocks of 3 minutes -- not necessarily from trades.
The point I tried to make is as follows:
if a thinly traded stock is at a key "technical point" it doesn't cost very much to push it below the technical indicator (perhaps in the hopes of triggering some algorithm driven selling)... Arguably, that is a "market event", but in a thinly traded stock an event potentially controlled by a single individual masquerading as the "market's sentiment" -- it is this point, that I'm calling the danger of manipulation....
My understanding is that the algorithm traders try to hit stocks with high volumes (like Bank of America & others) to protect against this.
thanks for pointing out the need for clarification.
I'm a TA skeptic, but as a general rule, I keep an open mind about everything.
What does your (or anyone's) read of the technicals tell you to expect for XIN in the near term, up or down? How much up or down and how soon?
Those are honest questions, not aggressive ones. My main problem with TA is that it's great at telling us what already happened, but tends to fuzz up its future predictions so much that they become worthless, often by not applying time limits to its predictions (XIN to $10 isn't a useful prediction if the timeframe is sometime in the next hundred years).
TA can't predict the future. Sorry :)
However, what it can do is identify classical charting patterns that can indicate good low-risk entry, or exit, points, as well as indicate likely levels of resistance/support.
For example, the 2.65 level was indicated as a key target for the completion of the inverse head and shoulders, and then, once broken, helped to identify other fibonacci levels that were helpful in determining where buyers and sellers would take over. See the following posts.
TA is more important now than before as 70% of the volume traded is done by computers/algos. Although fundamental factors can certainly be built into them, technical indicators probably take a lead. If they point down, robots will look to sell.
It should at some point but the trendline to 3.9 has been broken for now.
Look back at this old post from some longer-term scenarios for more upside. This is all purely speculative right now, we will have to see what happens with today's close and then over the next few days.