What I mean is that the stock price made a new high but the OBV did not because the volume has been much higher on declining weeks than it has on rising weeks. You can see this is mostly due to the correction last March.
Monday, November 19, 2007
Happy Birthday ICE (two yr old ticker)
The ICE ipo was two years ago last week and while the price action couldn't look better, i see some long term divergence in the on balance volume. The volume seems important going forward so I have the price by volume for ICE's two year history along the left vertical axis:
What I mean is that the stock price made a new high but the OBV did not because the volume has been much higher on declining weeks than it has on rising weeks. You can see this is mostly due to the correction last March.
What I mean is that the stock price made a new high but the OBV did not because the volume has been much higher on declining weeks than it has on rising weeks. You can see this is mostly due to the correction last March.
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