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Ford, Tesla, Virgin Galactic Look Set For Continuation Higher Due To This Key Indicator: What To Watch For

September 19, 2021 9:57 am
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Ford, Tesla, Virgin Galactic Look Set For Continuation Higher Due To This Key Indicator: What To Watch For

Ford Motor Company (NYSE:F), Virgin Galactic Holdings Inc (NYSE:SPCE) and Tesla Inc (NASDAQ:TSLA) all had higher than average daily trading volume on Friday.

Volume is the total number of shares traded in a security within a specific period of time. It is a momentum indicator used by technical traders to gauge overall interest and sentiment in a stock. Volume is also used as an indicator to confirm a trend or trend change.

When bullish trading volume increases, the share price of the stock usually moves higher whereas increasing bearish volume, when a stock is in a downtrend, usually pushes the price lower. In contrast, lower than average trading volume usually indicates consolidation, which results in the stock trading sideways.

  • When a bullish trader has a position in a security, decreasing volume can act as a sell signal because it indicates the stock is running out of buyers.
  • A bearish trader in a short position may watch for decreasing bearish volume to indicate the stock is running out of sellers and a reversal may be in the cards.

See Also: EV Battery-grade Nickel, The Automotive Industry Conundrum

The F Chart: 76.33 million shares of Ford's stock exchanged hands on Friday, compared to the 10-day average of 62.27 million. This may indicate confirmation of a trend change. 

f_sept._18.pngThe SPCE Chart: Virgin Galactic's trading volume measured at 23.01 million on Friday, compared to the average 10-day volume of 13.42 million. This may indicate a trend change.

spce_sept._18.pngThe TSLA Chart: 28.20 million Tesla shares exchanged hands on Friday, compared to the 10-day average of 18.37 million shares. This may indicate bullish continuation from the break of a bull flag pattern Benzinga called out Sept. 16.tsla_sept._18.png

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