I was waiting for someone to ask that question. I don't have the actual trades, but the price was walked up in the last 15 minutes in a big way on heavy volume.
It seems pretty clear that there was institutional buying occurring, based on the volume in that time span. Prices walked up at the beginning of the day can sometimes be a setup for declines in the latter half of the day, but this usually suggests accumulation. Does this seem correct to you?
I was starting to think we might have to revisit the 200 day moving average one more time, which currently is just about $22. I think $22 is our safe bottom at this point, and the potential for an upside move pretty good.
No news, so it has to be either a case of good information, or good technicals and fundamentals driving the move. Either that, or there may be some potential to rumors of potential buyout possibilities.
No mistake about it though, that was BUYING not selling going on!!!
Like to hear any thoughts on this, it was unusual ... and I assure everyone it wasn't me :o)
Regards, JB |
