medium · Volume Spread Analysis supply-demand-smart-money

A stock is rising on expanding spreads and increasing volume. However, the volume becomes 'excessive' (e.g., 4 times the average) into new highs, and the next day the price falls.

What does this suggest?

  1. This represents a successful, low-volume test of the supply sitting at the new highs.
  2. The uptrend is only gaining strength here and should continue climbing.
  3. The professionals are simply absorbing all of the remaining sellers at this level.
  4. The high volume contained significant hidden selling (Distribution).

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