Volume Spike Investor » Merrill Lynch http://vsinvestor.com Investing in stocks based on short term spikes in volume Sat, 05 Nov 2011 14:20:15 +0000 en hourly 1 http://wordpress.org/?v=3.2 Technical Violation/Volume Alert: Merrill Lynch (MER) http://vsinvestor.com/2008/07/technical-violationvolume-alert-merrill-lynch-mer.html http://vsinvestor.com/2008/07/technical-violationvolume-alert-merrill-lynch-mer.html#comments Mon, 28 Jul 2008 19:05:00 +0000 247admin http://www.vsinvestor.com/?p=215 Today could represent a ket technical violation in shares of Merrill Lynch & Co. (NYSE: MER).  Shares are down 10.5% at $24.65 as of 3:10 PM EST.  We have seen almost 39 million shares trade hands, compared to an average daily volume of 28.7 million shares.

The key level to watch is $24.69.  That isn’t a 52-week low or multi-year low, but that $24.69 level does represent the lowest closing price that was seen back on July 15.  On an intra-day basis, we saw lows on that day and the day after of $24.58 and $23.64.  If we close under the $24.69 level then we’ll have far more consequential technical discussions by chartists than if we just had an intra-day violation.  So far today’s intra-day low before 3:00 PM EST was $24.45.

Jon C. Ogg
July 28, 2008

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