Strong Accumulation Pattern in NILE

One of the most important factors I look for in selecting a stock to trade is a stong accumulation pattern. NILE is a good example of a stock under accumulation. Take note of the strong volume on up days versus the low volume down days. This is our first que that the stock is under accumulation. Next we see that all volume related indicators are sky high. Finally, price has moved as we’d expect with this type of volume pattern, up around 30 points since early July.