Bearish Pressure Building on Atheros Communications Inc.; ATHR – Learning Markets
Atheros Communications Inc. (ATHR) [Chart - Analysis - News] gained some ground during trading yesterday, but it appears there is some bearish pressure building up in the background. Looking at yesterday’s money flows, $1.49 million left the stock. Only $6.03 million flowed into the stock on uptick trades while $7.51 million flowed in on downtick trades—giving ATHR an up/down ratio of 0.51.
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The question is, will ATHR continue rising or will increasing bearish sentiment help turn things around and start pushing the stock price lower? ATHR has lost 6.88% during the past month and is currently trading below its 20-day, 50-day and 200-day moving averages.
Watching money flows can provide traders with a glimpse into investor sentiment. When money flows are positive—more money is flowing in on uptick trades than is on downtick trades—it shows traders are confident the stock price is going to continue rising. When money flows are negative—more money is flowing in on downtick trades than is on uptick trades—it shows traders are confident the stock price is going to continue falling.
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