GAMUDA

Did you manage to ride the bull on the rise recently set in on Gamuda?

Let’s examine from the volume-based indicator, OBV On-Balance Volume. Normally, traders use the OBV as leading indicator. We must put into understanding that the volume represents the emotion of the market participants. I am talking about the emotion & financial commitment on the involvement in the stock. The OBV achieved a new high from the previous high of 57.9M to today higher high 69.7M approximately 20% gain. What the indicator trying to tell us that the bulls are powerful, price is likely to rise even higher & the trend is confirm, it give a buy signal. The price is moving the same direction with the OBV curve. Now, the question is how long the uptrend can sustain since it broke the 100daysMA of 25 of March?