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FINBOND URGENTLY LOOK AT VOLUME

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Preston
Super Contributor
Guys, have a look at this large transcation that occurred in FINBOND at 15:54. 4.9m shares at one transcation....
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12 REPLIES 12
SimonPB
Valued Contributor
hmmm, somebodies buying ..
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Not applicable
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Not applicable
Threshold (if you there), do you still have your original holdings in FGL from the 7c days?
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Preston
Super Contributor
Yet volume validate bullishness which is around support area.... All it has to do now is close in the green.
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SimonPB
Valued Contributor
preston you are right, but does it count if it is basically a book over ??
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Preston
Super Contributor
Simon, when the techies are "trading the price", will they see a volume spike confirming support or a "book cover".
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SimonPB
Valued Contributor
well if they see a book cover they probably not worried about some chart
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MehmoodHaffejee
Frequent Contributor
And yet for every bear there is a bull. For there to be a transaction, a willing buyer and seller must come together...
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SimonPB
Valued Contributor
a volume spike is supposed to tell you there is increased interest from increased number of people .. a single trade that makes up for some 98% of the volume is, to my mind, meaningless .. what if it is just a director transferring shares to his wife ? selling to a BEE fund ? it is not saying increased interest at all, hence meaningless
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Preston
Super Contributor
okay Simon, let the market test your assumption. Let see ..... what happens to the price?
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SimonPB
Valued Contributor
no, now you mixing up cause and effect, stocks go up for hundreds of reasons and not every volume spike means a stock goes higher .. I am saying this volume spike is meaningless .. I am not saying the stock will not go up .. those are two totally different things ..
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SimonPB
Valued Contributor
for the record my official stance on FGL is hold as per a FinWeek column of a month or so back .. but I do not hold, now have I ever
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