OBV Update 4/8 & 4/9.... Just for the fun of it I'

OBV Update 4/8 & 4/9.... Just for the fun of it I'm applying Joe Granville's Technical Strategy of "On Balance Volume" to Marani Brands stock price..


On Balance Volume Data "Cumulative based on daily volume" - 2/13 through 4/9:
2/13 - 10,145,058v
2/17 - 08,006,119
2/18 - 08,006,119
2/19 - 08,006,119
2/20 +04,756,548
2/23 +05,974,548
2/24 +05,974,441
2/25 +05,974,441
2/26 +00,000,000
2/27 +00,000,000
3/02 +03,725,850
3/03 +03,725,850
3/04 +03,725,850
3/05 +03,725,850
3/06 +10,514,515 ^
3/09 +10,514,515 ^
3/10 +10,514,515 ^
3/11 +10,514,515 ^
3/12 +10,514,515 ^
3/13 +10,514,515 ^
3/14 +10,514,515 ^
3/16 +10,514,515 ^
3/17 +09,556,812
3/18 +09,556,812
3/19 +09,556,812
3/20 +09,556,812
3/23 +11,520,162 ^
3/24 +15,938,772 ^
3/25 +15,938,772 ^
3/26 +19,340,821 ^
3/27 +27,962,683 ^
3/30 +28,772,788 ^
3/31 +26,448,888
4/01 +26,448,888
4/02 +26,448,888
4/06 +26,448,888
4/07 +25,671,858
4/08 +25,671,858
4/09 +28,382,518

Quick observation: This OBV exercise is showing that MRIB is in a rising field trend, and volume is known to precede price movement.


4/08: The pps closed unchanged despite 12,918,587 shares changing hands. The activity is considered a standoff between buyers and sellers. In that most of the intraday trades were at a higher pps, with higher volume, it makes a strong case that the day should be considered that of accumulation. However, I will abide by Joe Granville's rules pertaining to OBV Data and consider the day a standoff. Therefore there is no change to cumulative OBV.

4/09: The pps closed higher on 2,710,660 shares traded. The higher close officially ends the most recent pps contraction and all shares traded today are added to the cumulative OBV as a positive. If tomorrow, or during this pps expansion, the cumulative OBV closes higher then the mark set on 3/30 of 28,772,788, then a rising field trend will be confirmed. An UP designation would then be applied to acknowledge that achievement..

Note: An UP designation is used when a previous cumulative OBV high is broken, and a DOWN designation is used when a previous cumulative OBV low is broken. UP/DOWN designations get transferred from the previous day on days there is no price change.

There are three possible field trends based on OBV Data results: Rising, Doubtful, and Falling. It's purpose is to determine if accumulation/distribution is zigzagging up or down. It takes 2 up movements and 2 down movements before a field trend can be determined....

Chewie

Note: My opinions in this posting are just that, "opinions." Please make your own investment decisions. Happy trading, and best of luck to you with achieving prosperity.