[goodtyneguy]

I've been looking at this one too and I am wondering what to make of the volume on the penultimate day and the day before that. Great volumes, but they're on down days which is giving me cause for pause.

I reckon that's the traders getting out who did not take profits at the last swing high. It did not break out higher after the consolidation perhaps as they expected then they saw it drop below the 50 dma and/or the trading range on the shake out. When it rallied back to the bottom of the trading range and obviously nearer to the previous swing high they decided to get out thinking it was going to drop further. The tight range of the daily dojis meant that there were still plenty of buyers to take up the selling. The fact that the stock leaped in price on Friday on much lower volume is evidence that there was very few sellers left in my opinion. It does not meet the methods volume requirements but it is a UK stock and it's gone too far now in my opinion. I'm not so sure that the sector is in alignment either.

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Another equity with a gap up above 52 week highs which doesn't look back.

Plan on coding this up as a screener - shouldn't be to difficult.

If you're interested the advanced charts in IG Index - which is a watered down version of PRT's charting package have a "Top Movers" screen which include gaps up and down as a default setting. The advantage here over EOD PRT is they show real time data. You could of course always code a screener to include your 52 week high criteria etc. The down side is that there is no volume available if you wanted to include that and it is £30 per month but that gets refunded if you make four trades in a calender month.