Our 2nd stock pick LLNW maybe setting up its next leg higher. A quick analysis of the chart seems to indicate a volume pattern where spikes above 500,000 shares seem to foreshadow break outs from consolidation to the upside.
The below chart highlights every >500k volume spike which was subsequently followed up by a pop in price. Today’s price action featured such a spike, if history is any indicator this maybe forecasting the next move higher.
A second chart shows a second symmetrical triangle forming with a rising 10 period Money Flow Index. The next few trading days may feature a breakout to higher prices if the general market is supportive.