Extreme Buying Pressure
Note: The historical stock examples given below are for EDUCATIONAL USE ONLY. They ARE NOT to be used to make buy/sell decisions in today's market. For more information, please read the HSR Terms of Use.
Description
Price rallies on wide range, heavy volume AND closes above multiple weeks' worth of closes.
Behavior Note: Price may undercut the prior week's low/close before rallying to close near the top of its weekly range.
What you need to know
Extreme Buying Pressure weeks may put a floor underneath price and show big demand coming into a stock as buyers wake up out of their malaise.
When price closes above multiple weeks' worth of closes, it suggests that buyers are gaining the upper hand.
Historical Stock Chart Examples 1A & 1B: SK Telecom ADS (SKM) 1999
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Click to enlarge 1A
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Click to enlarge 1B
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