SMWH rejection wick at 513p lead to fresh lows under 440?WH Smith PLCLSE_DLY:SMWHStockso_SimpleThe price pushed to new lows around 440p before reversing upwards on what looked like fairly unconvincing volume. That alone did not particularly interest me. Tuesday is where it gets more telling. A huge volume spike against a tight price range with an upper rejection wick. That is a classic anomaly. If this were aggressive buyers taking out offer prices with conviction you would expect the price to continue upwards with some momentum behind it. Instead the price barely moved on all that effort. The most logical explanation is that holders are using any rise in price as an opportunity to offload stock into the buying activity. Could fall back from here and dare I say it, push into new lows.