When you view a chart in candlevolume view you can visually see how the volume blends in with the price action to tell a story. We had massive volume accumulation back at the end of August and today we closed right at that support. We are also at the 50 moving average which should also help this stay afloat. We may dip lower and this chart from Finviz below shows a trendline where we could dip a little lower, but this is setting up for a nice risk/reward to the upside.

http://www.finviz.com/chart.ashx?t=SPRD&ty=c&ta=1&p=d&s=l

Posting will be light today as we have one more turkey dinner tonight and a huge football game tonight will keep me busy. I bought LULU and DE today and already trimmed LULU in an intraday move for a 2% gain. Today’s selloff was completely natural and nothing to worry about and should provide a good buying opportunity tomorrow morning to pick up some market etf’s.

One Response to “Candlevolume Tells a Story”

  1. ENTR at Support | zentrader.ca | stock market blog Says:

    […] this week this one should be good for a 10% pop, as long as support holds. And if you got into SPRD when I pointed it out you should have been taking some profits […]

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