NanoViricides Inc. (NNVC)

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INTRA-DAY ON BALANCE VOLUME HAS BROKEN DOWN


Using the finest granularity of data I have ( 1 minute) the OBV has now broken down. Technical analysis texts will tell you that volume leads price. My historical analysis of OBV on a stand-alone basis: Sometimes she do and sometimes she don't. However, within the context of long-term trends I take the OBV breakdown to be a negative signal.

Since the start of October, all the largest transactions visible at the one minute time-scale have been at a lower price than the prior 1 minute interval. This is also bearish. This was not the case in August or September.

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