Maybe some of the posters here can tell me how they would read this -
Stock has an average trailing 3 month volume of 260,000 . About 6 weeks ago it was de-listed from the NYSE and moved to OTC. Volume was high initially (500,000 to 1,000,000) and has now dropped off entirely. Last week average volume was <50,000. The price during this time went from $2 to 70cents where there seems to be strong support.
Over the last 30 days the stock has traded between 70-80cents but at the same time volume has gone down from 300,000-500,000(first week) to 10,000-50,000(this last week).
How would you read this → Strong price support on continually declining volume? ← this is what i’m curious about. Today was incredible with just 6,500 shares changing hands…
Thoughts?