Compute the level of on balance volume (OBV) for the three-day period shown in the table down below, 1, for a stock (see table below) if the beginning level of OBV is 48,300 and the stock closed yesterday at $ 41.63 . Does the movement in OBV appear to confirm the rising trend in prices? Explain.

The OBV for day 1 is _____ . (Round to the nearest whole number.)

The OBV for day 2 is ______. (Round to the nearest whole number.)

The OBV for day 3 is _______ . (Round to the nearest whole number.)

Does the movement in OBV appear to confirm the rising trend in prices?(Select the best choice below.)

A. There is some downward movement, but volume was heaviest on the day that the price fell which tends to mute the downward movement in OBV.

B. There is some upward movement, but volume was lightest on the day that the price fell which tends to mute the upward movement in OBV.

C. There is some downward movement, but volume was heaviest on the day that the price rose which tends to mute the upward movement in OBV.

D. There is some upward movement, but volume was heaviest on the day that the price fell which tends to mute the upward movement in OBV.

1: Data Table (Click on the icon here in order to copy the contents of the data table below into a spreadsheet.)

Day Closing Price Trading Volume (shares)

1 $43.64 86,100

2 $45.52 53,300

3 $44.97 115,400