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On a 15 minute chart, I find it helpful to weigh the 3 or 4 heaviest volume bars into the analysis. You'd need a pretty heavy algorithm to measure it all tick by tick, and believe me some funds have that code. However the 3 heaviest 15 minute bars reveal some valuable insight into the current accumulation and distribution.
I just adore SIMO for the quick high volume moves up on the weekly chart and the steady accumulation on the daily. However the last ten days have shown more selling than buying. That makes SIMO prone for a fall to the 50 day. I am only looking to buy significant accumulation at east every 3-4 days. I'm not interested in finding out how gentle or rough that test will be.
Biggest roaring volume up can also show up in the 15 minute chart and that I would buy.
In a stock like SIMO, you can move up to about $1 million with this sort of agility. Charlie Chai at Fidelity Select Technology & Fidelity ADV Technology, is learning from Dannoff and working over the fear and greed with at least a $12 million dollar position. Perhaps he is using $1 million dollar blocks to work it lower so he can get another $12 million into it at the 50 day. He has almost $3 billion to work with. He can't hide.
2 days later SIMO is at 20.82. And that is why I find the 15 minute chart so valuable. If the support is here at the 50 day, it might be a good buy.
And just like taking a beachead, that support had better show up in overwhelming volume or it may get driven back into the sea.