AJ : Perfect example of a ramp.
March 7, 2011 1 Comment
The candle volume chart of AJ below shows a ramp of major proportions, with the clever money fleeing the scene throughout Q4 last year.
The stock seems to have seen selling pressure lighten of late, and with a very important support at 23, there is some chance of a move to 24.00 to 24.50, and if volume suddenly increases to 20-25m shares on the day, 25 to 26 is not too far if the market makers return from leave.
However, if the stock fails to hold above 24 for a short while longer it will greatly increase its chances of taking out the recent low of 21.80 and coming off to 18-19.