Wyckoff trading method, page-1855

G'day Beany

Not exactly earth shattering volume ~0.9M over 6 months, perhaps they are the "bot" that shows up the course of sales. Average daily volume traded over the period covered by their announcement is ~295K so PIE disposed of on average ~7.5K shares into this volume.

I questioned the gap up at the time and on reflection said that it wasn't a breakout rather merely a ratcheting up of the accumulation range, taking on board Jako's comments the only logical explanation that makes sense to me is that the accumulator has a target of accumulating a minimum of X amount @ VWAP of $Y. The gap up was to achieve that target on a short trading week. To my eye and thought process the accumulator is going to take advantage of the price drop and the SP will be back in the original range.

However, that needs to be confirmed and I wouldn't be entering a trade based solely on todays action.