What makes you think that?
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very large blocks of stock married within same broking firm....doesnt normally happen without price moving up....may well be wrong....have been before and no dout will be again
Phaedrus.....is this a break out on the upside???
No buy signals yet, Redzone. The 6 indicators plotted here have worked very well in the past for this stock and while all are heading up, none have actually triggered yet.
There are signs, though, that this just might be the turnaround. See how volume on the $3.48 low of 27/3/08 was higher than any other day over the 5 months of the downtrend? This looks like a price/volume climax such as are found at significant turning points.
Look also at the green volume bar for the next day, 28/3/08. This was the highest volume "Up" day in the history of the current downtrend. (Red volume bars are down days, green are up days and blue, no change).
Now, the last volume bar shown is for today and as such only accounts for volume up to now (mid-day). Obviously this will be higher by the end of the day and a higher volume than yesterdays would be Bullish as well. (Rising price on rising volume)
http://h1.ripway.com/Phaedrus/SKC331.gif
will take some doing to beat that volume....looks a classsic turn around to me but with today being the last day of the financial year might it could also just be window dressing...
[quote=redzone;192099]will take some doing to beat that volume....quote]
I don't think so - it's not that far below it.......
Fridays volume was 3,358,398
Right now (1.30pm) it is up to 2,983,290
Last day of the financial year dont expect a normal market today. I would expect a larger volume of shares traded today across the board than normal. SKC i would think with their large debt would continue to downtrend in this economic climate for some time. Bush is about to inflict his economic revival plan any day now so expect the worst. Macdunk
ok...thats a good sign....I couldnt help myself....I averaged out a few....I do have a feeling our $ is about to take a hit....I still hold the view if SKC were to stay down here at these levels and the $ does take a hit,the market the way it is SKC could be picked up very cheap.....by that I mean at least a $ a share cheaper than what may have happened 6 months ago...all about timing I suppose
Phaedius.....looks lke SKC has broken out to me...
this has $4.30 coming