ADM rising volume, falling price, classic distribution signsAdmiral Group plcLSE_DLY:ADMStockso_SimpleSpeaking of distribution, we could be watching the start of a distribution phase here with Admiral. It’s been on a long run since the start of the year, up around 50% for investors. For a private investor, that begs the question, does this still offer good value? A couple of things worth noting. First, we’ve had a run of rising volumes over the past six sessions, all above average. Second, taking that into account, price has dropped off over the last two sessions. Something doesn’t add up here, and it’s quite possible institutions are trimming positions and locking in profits. I’d never take a position off a single candle alone, but Friday’s engulfing candle looks like a clear sign of weakness ahead. It opened above the previous day, fell below the previous day’s low, and closed at the low of the day on the highest volume since June.