Date | Open | High | Low | Close | Volume |
Jul 1, 2010 | 12.80 | 14.75 | 12.76 | 14.54 | 2,401,006 |
Jun 30, 2010 | 11.64 | 13.86 | 11.39 | 12.75 | 1,762,198 |
Jun 29, 2010 | 11.20 | 12.00 | 10.91 | 11.64 | 1,335,718 |
Jun 28, 2010 | 9.70 | 11.54 | 9.70 | 11.37 | 2,633,602 |
Jun 25, 2010 | 9.92 | 9.92 | 9.20 | 9.79 | 2,330,184 |
Jun 24, 2010 | 10.00 | 10.09 | 9.65 | 9.90 | 367,645 |
Jun 23, 2010 | 9.87 | 10.00 | 9.26 | 10.00 | 239,412 |
Jun 22, 2010 | 10.28 | 10.46 | 9.62 | 9.92 | 285,987 |
Jun 21, 2010 | 10.89 | 10.94 | 10.31 | 10.31 | 315,535 |
Jun 18, 2010 | 11.05 | 11.05 | 10.31 | 10.63 | 129,722 |
Jun 17, 2010 | 10.93 | 11.38 | 10.74 | 10.87 | 205,548 |
Jun 16, 2010 | 11.10 | 11.10 | 10.43 | 10.87 | 263,455 |
Jun 15, 2010 | 10.82 | 11.20 | 10.55 | 11.10 | 366,953 |
Jun 14, 2010 | 10.51 | 10.95 | 10.27 | 10.57 | 371,284 |
Jun 11, 2010 | 8.78 | 10.36 | 8.71 | 10.26 | 478,822 |
Jun 10, 2010 | 8.74 | 9.00 | 8.37 | 8.40 | 183,997 |
Jun 9, 2010 | 8.81 | 8.81 | 8.45 | 8.48 | 45,485 |
Jun 8, 2010 | 8.77 | 8.92 | 8.46 | 8.61 | 53,717 |
Jun 7, 2010 | 8.76 | 9.11 | 8.66 | 8.77 | 120,134 |
This the story of stock IDT from last month. The stock moved 1000% from last years fall from 1.59 low to a high of 15.15 today. But the recent movement from june 25 show some interesting observations. There is a tremendous increase in volume from 3 hundred thousand to 2 million shares a day. this movement usually mean a big investor like a hedge fund invested in this stock. And after this there is usually a 30 % gain in the couple of day. The rally moved aggressively even when the overall market was slumping.
The rally after the major volume change usually is for 3 days and if it extends to the 5th day, it is a little over extended,it has to come down towards the 30 MA. Any way, shorting this stock above the 30 MA is not advisable. One can purchase this stock after the first pull back. The first pull back is after the first series of stock rally in the stocks movement upwards. The stock moved from 9-15, this is the first rally, there will also be the first pull back after the first rally. If one missed buying the stock in the first rally at around 11or 12 then
one has to wait for the first pull back. The First pull back is usually still above the 30 day average. The other problem in this case is that the Mr. Market is bear. Every one is selling. Good time to short the over all market but to buy and hold this IDT , it should be a really good energy stock upwards. There is a lot of energy in this stock which is signaled by the 5 day first rally.
First pull back is a good time to buy. At around 12.5.
Today as I predicted IDT fell. This is because some of the people who got in later on 28,29,30 june and 1 july want to book profits. But the major investors are still holding the stock. Reading the volume indicator is the key to success.
People may sell this stock for 1 or 2 days till it comes down to 12.5 or around that price, then there will be another rally. Also things depend on over all market conditions to some extent. If every one selling stocks this stock will not move idly alone. The over market conditions affect even this stock.
People may sell this stock for 1 or 2 days till it comes down to 12.5 or around that price, then there will be another rally. Also things depend on over all market conditions to some extent. If every one selling stocks this stock will not move idly alone. The over market conditions affect even this stock.
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