Just wondering if there are any technical traders out there than could explain a little about the accumulation / distribution indicators.
While I don't really use indicators too much, I was interested in accumulation/distribution to see if these indicators could give a bit of a lead on the type of pressure may come on a share (up or down). I understand the principle they work toward by looking at where the close for the day was relative to the peaks etc, along with volume. The problem was with one of the first charts I went to, BHP. Basically since it started its recent strong climb from Jan this year, most of the various Acc/Dis indicators showed a strong distribution indication for almost the whole year while the value of the stock has basically doubled?
Why would this be the case?
Chalkin Money flow and Accumulation/Distribution Indicators were used.