Tuesday, 4 August 2020

AppAsia. Word Up!!!

Was a smash hit for Cameo. AppAsia On Balance Volume indicator points to the company testing levels unseen before in its recent history.

The stocks On Balance Volume suggest that this stock will break into new highs and could well test Japan's Rakunten's target of above 65 sen.

On Balance Volume (OBV), developed by Joe Granville, is a volume trend that relates price to volume, and tries to capture the buying and selling pressure in the market. 

The indicator's objective is to show if volume is flowing into or out of a security. Money is flowing into the security when the indicator is rising and out of the security when the indicator is falling. 

Adding the volume to a cumulative total when prices close higher and subtracting the volume from the total when prices close lower calculate OBV.

AppAsia's OBV is about 200 million. This means block trades and big money is drinving the stock upwards.

WORD UP for AppAsia, then as the stock lookds poise to challenge  the 60 sen a share resistance. Break that, and its

Do your dance, do your dance, do your dance quick mamma
Come on baby tell me what's the word
Word up everybody say
When you hear the call you've got to get it underway
Word up it's the code word
No matter where you say it you know that you'll be heard

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