$MOVR volume is 0.2x its weekly average. Here is why that matters more than price
Most traders see a +3.8 percent green candle and chase the breakout blindly
Right now $MOVR sits at $1.9850 near the top of its $1.8070 to $2.0020 daily range
The price is 40.6 percent under the $3.3400 seven day high so it looks like a cheap recovery
Yet the twenty four hour volume is only $10.0M which is 0.2x the seven day average
That low ratio means almost nobody is participating in this push up
A real rally needs heavy volume to back the move or it simply fades out
Check the volume indicator against the moving average before you trust any breakout
What volume ratio makes you walk away from a setup
#MOVR #TradingTips
Most traders see a +3.8 percent green candle and chase the breakout blindly
Right now $MOVR sits at $1.9850 near the top of its $1.8070 to $2.0020 daily range
The price is 40.6 percent under the $3.3400 seven day high so it looks like a cheap recovery
Yet the twenty four hour volume is only $10.0M which is 0.2x the seven day average
That low ratio means almost nobody is participating in this push up
A real rally needs heavy volume to back the move or it simply fades out
Check the volume indicator against the moving average before you trust any breakout
What volume ratio makes you walk away from a setup
#MOVR #TradingTips