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When I see a news brief like "Atlassian put volume heavy and directionally bearish," does that mean what it seems to mean to someone not in the know: A indication of likely short-term stock price direction?

Does it mean that people are long and buying insurance? And/or speculating on a drop?

Are these basically the same, since expectation of a drop would be a reason people up "insurance" buys?

Or does it mean something different altogether?

Trying to learn. Thanks.
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