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Wednesday, December 17, 2008 1:18:09 PM
EGMI-Looks like it's moving well today so far.
As far as the volume question goes, it's not necessarily a number, it's a comparison. What a chart qualifies as high volume is a volume imput that is significantly higher than previous volume days.
For EGMI, I would say that would need to be one million shares or more each day for several days in a row. The average volume is probably around 500,000 shares a day.
That kind of push should keep it moving up. How high it can go is speculation. Right now it's above the MA50. If it can close above that level, then it could go as high as the next moving average, which is the MA200. That one is over .50 right now. However, there are resistances that have to be overcome before it gets that high. Based on previous highs, there are resistances at .40 and at .44 also.
Hope that helps.
As far as the volume question goes, it's not necessarily a number, it's a comparison. What a chart qualifies as high volume is a volume imput that is significantly higher than previous volume days.
For EGMI, I would say that would need to be one million shares or more each day for several days in a row. The average volume is probably around 500,000 shares a day.
That kind of push should keep it moving up. How high it can go is speculation. Right now it's above the MA50. If it can close above that level, then it could go as high as the next moving average, which is the MA200. That one is over .50 right now. However, there are resistances that have to be overcome before it gets that high. Based on previous highs, there are resistances at .40 and at .44 also.
Hope that helps.
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