Stock witnessed tremendous buying from huge gap down and closed with huge green candle. Volume and RSI in support but closed near Resistance zone. Will you buy now or wait further? Share your answer in comment section.
hello, do you have strong belief that heavy volume is always a sign of the positive breakout and price should go up. I have seen multiple times when big players quit strong volumes can be seen in a stock and then price starts dropping after that. It never goes up after that. I have experienced this with many stocks what do you think?
Equity_OptionTrader
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@networktechy15, Not at all. Big volumes can be operators play or sudden influx of retailers money or bulk order from institution. That's why we should not solely depend on volume rather use it as a supportive indicator.
Results are positive and thats the reason for BO, so the price may try to make levels of 635. But as per the current market trend I think the share will have some bounces.
I have seen multiple times when big players quit strong volumes can be seen in a stock and then price starts dropping after that. It never goes up after that.
I have experienced this with many stocks what do you think?