Institutional Number Rejection and Buyer Failuer Example

Here is a textbook buyer failure at an institutional number example.

The way I use institutional numbers is for profit targets because they act as magnets. For example, if you had a long position from early in AH, your final or farthest profit target would be the institutional number at 2400. Always expect that there will be a battle between bulls and bears at that level (Bears want to keep price below 2400 and bulls want it to breakout above), especially larger traders who hold positions longer term.