Heavy buying before the close?

pursuitute said:

Hey, I've got a question on a scenario I have been looking at and wonder what peoples thoughts are.

Stock X has been on a bit of a roller coaster this past week and I have been watching intently. On Friday it was having a reasonable day and was tracking about 8-10% up all day and then with ~10mins to go, a feeding frenzy started and it jumped another ~8% which it maintained during the close.

Volume for the day was about 70% up on the previous two days and no announcements or other press were present at the time. Infact, the last announcement was more than 2 weeks prior.

What do you think is in store for this scenario on Monday?

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jono1887 said:

what stock was it?

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cutz said:

Jono,

I've already asked, i think pursuitute wants to keep it a secret.

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awg said:

I will spill the dirty little secret

Only 2 stocks match the criteria

MEO and RCR

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awg said:

I will spill the dirty little secret

Only 2 stocks match the criteria

MEO and RCR

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tech/a said:

I'm with Sam but think that both will likely finish lower than Fridays close after an initial buying frenzie in the morning.

This will take the shape of a pivot point reversal.
There could possibly be an inside day on one of them.RCR the most likely.

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Investopedia said:

An inside day is often used to signal indecision because neither the bulls nor the bears are able to send the price beyond the range of the previous day. If an inside day is found at the end of a prolonged downtrend and is located near a level of support, it can be used to signal a bullish shift in trend. Conversely, an inside day found near the end of a prolonged uptrend may suggest that the rally is getting exhausted and is likely to reverse.

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ThingyMajiggy said:

down day on monday

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tech/a said:

I'm with Sam but think that both will likely finish lower than Fridays close after an initial buying frenzie in the morning.

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pursuitute said:

lol, nice work, MEO it is. It's no secret, I was just trying to keep the discussion general.

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ThingyMajiggy said:

your call wasn't far off.

I wouldn't be surprised if we see a down week for both of them.

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ThingyMajiggy said:

down day on monday

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tech/a said:

I'm with Sam but think that both will likely finish lower than Fridays close after an initial buying frenzie in the morning.

This will take the shape of a pivot point reversal.
There could possibly be an inside day on one of them.RCR the most likely.

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beerwm said:

pretty stupid analysis,

the market was being sold off in the afternoon, MEO and RCR we're in the green at midday

you've just identified what happened to the majority of stocks today.

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