Healthway Medical closed at 17c on low volume and a declining MFI. We can see from the line I've drawn on the MFI that the buying momentum did not bounce off the line which would have meant a strong follow through in the buying momentum. Let us see if the rising 20dMA could push the price higher as the Bollinger bands begin to squeeze.
Trading volume has been on a downward trend since peaking in the first week of trading in 2010 on 7 Jan. Conventional wisdom is that if volume does not expand meaningfully, any price movement upwards is unlikely to be durable, especially for a counter with a huge float such as this one.
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