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On January 24th INVN showed the great hourly volume in weeks during the last hour of the day. By the end of the next day it was very clear that that "Heaviest" volume was not moving the stock higher. So why stick around to see how far it will fall??? Checking the intraday charts may seem daunting or like "noise", but keeping tabs on the 3 or 4 heaviest hours in the past five to ten days will clue you in early to a change in trend.
When I look at that Heaviest volume hour I just see a battle between the Bulls and the Bears due to the fact it hardly moved. When I look at the Daily on that day I get a better picture due to the fact it had a negative reversal that closed low in the range on the highest volume since the first day of trading. I think The first hour bar which went into new high territory and closed near the lows is more alarming to me even though the volume wasn't high, Just my opinion.
Abe....I used your advice on Solarwinds with a 15 min intraday....interesting to see the bulls battleing the sellers keep it in a tight trading range 30.4-31.6 despite the attempted early morning rally 10/26. I found this useful and very easy to analyze....thx.
It takes lot of looking at it. My read is that "Heaviest" volume will very often indicate the overall direction. It may wiggle a little up and down directly afterword but 5 - 10 trading hours later the hourly accumulation above or hourly distribution below will tell you which direction that is. Note the two distribution hours below the Heaviest hourly bar. It's what I used to stay ahead of a few moves.
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