$MAGIC 1-hour open interest increased by 8.07%, while the price rose by 2.04%.
When the price barely moves but open interest changes noticeably, it often means buyers and sellers are adjusting their positions, and a one-way move may follow.
A valid breakout is usually accompanied by higher volume, while a false breakout often happens on low volume. This is one of the filters I pay close attention to.
This is a summary of publicly available information. Please verify it yourself.
When the price barely moves but open interest changes noticeably, it often means buyers and sellers are adjusting their positions, and a one-way move may follow.
A valid breakout is usually accompanied by higher volume, while a false breakout often happens on low volume. This is one of the filters I pay close attention to.
This is a summary of publicly available information. Please verify it yourself.