Forum Archive Index - February 2004

[Phaedrus <Phaedrus@techemail.com>]

Allan,
      The average daily RBD volume is about 150,000. Naturally this figure 
varies depending on how far back you go. It's a bit hard to see, but I have 
plotted the average volume as a magenta line on the volume histogram at the 
bottom of the chart. Certainly todays volume of 517,385 is well above average 
(Green bar). Since today was an up day, this is bullish.
 The chart of RBD shows just how clearly Price/Volume climaxes can mark major 
turning points. The multiyear high of 217 and the multiyear low of 105 were 
both accompanied by spectacular and unmistakable volume climaxes. These points 
would be obvious to anyone taking even a cursory glance at the chart.
 Note also how the support at 125 became resistance, once it was broken. This 
too is a fairly common phenomenon.

                Phaedrus.
    
     

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