Sunday, August 06, 2017 11:41:56 AM
First of all, the TDA chart shows a high of $6.27, which seems to be in error. I think the small reversal candle in your StockCharts chart is correct.
It seems that the spike on trial news was shorted by those who knew that dilution was coming at $6.50. The $6.11 shares were the MM's that place the dilution I believe. With these cheap shares they were able to take the risk of driving the stock below that level in order to drive out retail.
Positives on the chart - dilution seems to be largely absorbed on A/D chart and it is turning positive. Slow stochastic,FTR seem to be turning up, Aroon up/down has not cratered.
OBV- still negative, but it could easily start another accumulation phase Monday. Note the dip in price i February before the Feb-March accumulation started. The increase in liquidity gave this move a higher amplitude, we could move up, or the deterioration of the 50 day could continue until it meets the 200.
I sold out for a small profit when the TDA bid/ask went weird. I've taken a small position around $5.57. The continued irregularity in TDA reporting has me concerned as this stock seems to be more controlled by the Street than any I've seen.
In Peace, In War
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