I see ASND bottem !! SHORTS BEWARE !!!
I just spend the last 1.5 hours calculating various ratio factors and compared them to laws of principal and probability. Volume sustainment probability is nearing a lesser than 5% chance of sustainment, which indicates that buying has now increased to sustain a potential support level of 32 3/8. Looking at the intra-day graph, you will notice a steady decline, untill the noon hour, where there is a stabilization, and a continued up and down wave pattern. This wave pattern equates to potential equalization of accumulation ratios. Plain english: We got a whole lot of accumulation going on !!
By calculating the ratio/volume pattern after the noon level off, a better than 87% chance points to support above 32 3/8 holding, while intra-day volume decreases slowly over the coming days. 16:5 ratio pattern has been established for a slow upward trend, relative to a volume reversal pattern. Meaning, as the volume slows, and all indicators state that it will, the trend will be a small upward movement, followed by a 1.5-1.75 trading range established, short term. Accumulation/Distribution ratios have reversed, and we are seeing heavy buyers coming in. However, the accumulation appears to be done in smaller than average block patterns. I have have seen this indicator many times in the nasdaq due to MM control. Float allotment vs. price ownership indicates that the heaviest average cost basis is (was) 34.5-36.125. Thus, it is my reading that this is another indication that we broke a major "interior" support level today that triggered much selling, but inturn the interior errosion and liquidation of the bulk float cost basis, caused us to slow by noon.
Look for a volume decrease, and a trend reversal in the morning. Technical support probability indicates at 13.47% chance of breaking below 30, based on all news, analyst and company projections, ranked and translated in a numerical indicator. |
