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Made some new charts:
Today's candles haven't closed yet! If today turns red or goes breakout green then some of these metrics (eg RSI) won't match.
Daily candles & analysis:
Daily volume & analysis:
The market tends to move into areas of historically low volume to make the volume traded at each price point more or less uniform. Key support and resistance levels already established show up as the highest volume bars in the rollup chart-right; these are levels where the most shares changed hands.
You've saved folks a ton of cash (me included) helping point out the false starts this ticker sees around short settlement dates, and the various ways MM's have been signalling how they'll manipulate on a given day.
Hopefully this trend breaks the patterns and does something new. It's in a short little breakout UP now after the early morning takedown turned into engulfing green, haha! Would love to see MM's start fighting each other instead of retail for the last cheap shares... :)
Yes, makes sense!
I forgot yesterday was near the short interest settlement date. On the charts, this uptrend has some key differences compared to the last one, which made me think it might continue this time -- but lack of news definitely encourages it to come back down!
Well, no after hours news. Let's see if the uptrend holds together today.
Excellent!
With all the legal controversy and lack of news lately, I'm pretty skittery watching trading funnel into that triangle tip. I've seen the bottom fall out in big ways when bears drive into support like that. We've been riding the bottom of that triangle for days and could fall through to $.08 or lower to make a double bottom with mid-April price levels before the ABC correction truly finishes, if today's momentum kaputs thru the week.
BUT the chart's also well primed for a news catalyst since bears are too exhausted to resist a new wave of bulls. These are exciting times! :)
Switched my chart studies from the usual so let me explain what's on there now:
Price panel has three studies:
200 period moving average. I only use it to gauge whether the candles are in bull (above) or bear (below) territory.
Williams fractals. These show support and resistance levels and take into account fibonacci numbers which market trends (and a lot of other things in nature) typically adhere to. I only watch the most recent fractal above and below the current bar when looking to enter a trade, the rest are more useful as reference. The rules for using them are that narrower ranges can offer better trades (kind of like bollinger bands) and a breakout can be an early signal to the start of a major trend, especially if paired with a nearby Williams AwesomeOscillator crossover. (See below) I go long when there's an obvious breakout above the most recent fractal tick if other studies also look bullish.
Williams alligator. This is a bit cleaner than my usual slew of moving average lines. The rules are:
Be careful going long when under the 200 period average.
Be careful going short when above the 200 period average.
Go long if a candle closes above the red line coming from below. Stop loss at green.
Go short if a candle closes below the red line coming from above. Stop loss at green.
Sell your longs at the end of an uptrend when a candle closes below the green.
Sell your shorts at the end of a downtrend when a candle closes above the green. (The situation on today's chart!)
Charts are here:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=165911992
I charted the hourly on that other post because it's got some stronger signals.
Here's the daily as well, but it's quite a bit more 'eh'. Survival of today's uptrend depends on a critical mass of buyers suddenly feeling less bearish, which imo would take a news drop -- else we're trapped under a new (less steep) resistance line again and will see more days of slow&steady red.
9% green on a tuesday with no official news? I'll take it! :P
News after hours would make it fly, this run has better chances than the stifled run on 8/31 because it's a lot closer to the 200 hour moving average and we're most likely out from under that nasty wedge line. (Which was acting as resistance since June.)
A lot of bullish signals on the hourly:
I bought more but I hope it's not this scenario again!!
You're welcome! :)
If you'd put your money on that prediction, then it might make sense to sell some of your shares now to protect that cash, then buy back in at single digits to increase your pool.
This is trading in oversold territory so it wouldn't take much to bring price back up. With the lack of good news lately, I've reduced my holdings because I'd rather risk missing early profits than risk realizing a bigger loss. Both approaches are a gamble depending on how you view it. It could get quite the haircut when a critical mass of investors start feeling bearish (and you get burned if you're holding), or fly upward if there's surprise news (and you get burned if you're not holding).
It's a frustrating ticker to trade because it sure feels like the true value should be higher than twelve cents!
I have a bad habit of editing my posts a few minutes after I make them... Added some additional thoughts and clarifications. :)
We don't know that it's holding up progress but it seems likely as far as the audit is concerned. (They'll need to know for sure who owns what shares.)
MAGA_PATRIOT also pointed out that the audit shouldn't hold up returning to Pink Current, only uplisting to QB, QX, or Nasdaq. https://investorshub.advfn.com/boards/read_msg.aspx?message_id=165804379
If there's more to the Savov story than we've been told, I could also see it possibly holding up everything related to ITV-1 (if there's a dispute over exclusive licensing rights), and maybe milestone-dependent partnership announcements (the "damages caused by Mr. Savov to relationships recently announced between the Company and other entities" mentioned in ENZC's latest financials) But that theory is also partially based on speculation and rumors we can't currently confirm.
Other possibilities include:
- The lawsuit is not holding anything up, but earlier potential partners (Lonza?) got cold feet and walked away from the table, and new partners need to be found.
- Earlier partnerships are still intact, but all parties are keeping them confidential for some reason.
- Things could be trucking along as usual and there could simply be no news yet.
Going by what we do know, I don't see how the legal action could hold up other mAbs news or partnerships that are not specifically related to ITV-1. Big news could still be imminent/forthcoming. But if there's a risk that Savov could sell 70 M shares there could be an interest in ENZC not pumping the stock price for any reason before legalities/negotiations are resolved. That said if ENZC wants the share price to stay steady, imo they'll need to throw investors a bone prettty sooon.
Ok, good to know!
There was a screenshot of an email that said so:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=165813880
But it could also be fake. An email with the subject "Investor inquiry" got a response (!) from a Lonza rep who, referring to Lonza+ENZC as "their collaboration", said it wasn't being pursued at this time.
To my knowledge, a statement that definitive has not been made official and still cannot be confirmed by any others. Afaik no one has established the source of this supposed email. Unfortunately with no news from ENZC or Lonza the screencap/rumor has just enough legitimacy to seem believable.
Great analysis!
Buying 72M shares at let's say .125 comes out to $9M. The company only showed $1,978,052 in cash and cash equivalents thru June 30 per the latest financials. Not to say they couldn't have raised additional money after that period!
The matter of disputed shares is definitely cheaper to solve now than later, if shares would be much more valuable.
Does anyone know who sent the email to get this response, or what questions were asked when making the inquiry?
From the screencap of the response, mention of "questions" and answers 1 and 3, it wouldn't have just been a question about ENZC+Lonza partnership.
This is the kind of thing that, if fake, could cause a panic sell before imminent news and line the pockets of whoever created the rumor. It gets several degrees fishier if no one can name/prove the originator.
Plus the subtle flags Dyno89 pointed out.
For anyone interested, here's a video from youtuber Jawsomesauce hashing through some of the details about the ENZC/Savov lawsuit.
IMO the value in DNATags is being able to track things as they move around. What people scan or buy in a supermarket. What coupons they use. Or flip the picture and track the people themselves in creepy dystopian style. :) Wearable wristbands or a temporary tattoo at events, or an app on a phone, etc. It's like bridging the gap between blockchain transaction verification and physical transactions in the real world.
DNATags also have applications in preventing counterfeiting or establishing chain of custody which could be useful for authenticating everything from drugs to sports tickets to cash money to election ballots.
There are probably a lot of ways to accomplish the same end. DNATags just happens to be trademarked and already making progress toward something profitable & viable. In the meantime yeah SANP is mostly good for quick flips. Billions of authorized shares is usually a bad sign. If this ever goes anywhere on its own it'll need a huge reverse split and the OTC hasn't been kind to companies that R/S of late. It's a genuinely good idea held back by shoddy business practices.
Yep, Charles C has some of the best credentials to help solve the legalities they're dealing with now!
Ok, good to know! That not being part of one big cause and effect chain lowers some of the risk.
Outstanding post, thanks!
I'm probably on your list of FUD-spreaders (not my intent!) but I chose to float some ideas regarding the Savov case over the weekend and see how people responded, to help me with my own DD. I've been in a lot of tickers I believed in and wanted to see succeed, to the point it blinded me to adapting with changing DD, and then I lost money.
In February during the GameStop hype, Mark Cuban did an Ask-Me-Anything (AMA). One of his answers was:
I learned some expensive lessons when i first started trading stocks. It was painful. But i tried to learn what i got right and wrong. Right now, right here. The game is changing. The hard part is ask yourself if what you believed in has actually changed.
BTC HODLers are a great example to follow. Many bought at the highs in 2017 and watched it fall by 2/3 or more. But they held on because they believed in the asset.
The same applies to stocks. When I buy a stock I make sure i know why Im buying it. Then I HODL until till I learn that something has changed. THe price may go up or down, but if i still believe in the logic that made me buy the asset, I dont sell. If something changed that I didnt expect , then I look at selling.
There's a bunch of stuff we don't know! It does seem that the relationship between Harry and Dimitar isn't on the best of terms.
I would hope with Charles C on the team, ENZC has taken precautions to protect itself from ever being in the same situation as IMMB BG regarding Harry and the exclusive licensing of ITV-1, and that ENZC did its DD regarding Harry so he isn't able to pull a fast one if he be like that.
Harry looks pretty embedded in ENZC as well so he stands to profit by leaving the current arrangement with ENZC intact long term. He could sell the patent but that might not even impact ENZC's operations re: ITV-1 at that time, since presumably there's already momentum and why would a buyer want to start over. Business as usual?
Savov could have a claim (or think he has a claim) to an ITV-1 exclusive license, or perhaps an ITV-1 exclusive license in Bulgaria only, but who knows because there are potentially legalities in multiple countries involved. (We aren't privy to those details for now.)
I worked for a company once that was actively being impersonated by another company in another country, down to the name and logo. Both companies kept right on providing the same services in their respective countries though they were well aware of each other as mortal enemies. Weird stuff happens sometimes. :)
At any rate, I imagine ENZC's audit is hung up on this legal matter and won't get finished until the court case wraps up. Auditors need to know for sure who controls what shares. But if ENZC wins the lawsuit (or the parties settle out of court), watch out! Case closes, audit drops, we get official confirmation of the ITV-1 exclusive rights transferal transaction from the audit, ticker goes pink current, and any contingent partnerships that got cold feet over the legal tangle might jump back in shortly after.
This ticker might be a ride until then, depending on how long it all takes.
To end the day here's some cherrypicked DD from a search for "immb audit enzc" on ihub. I was curious what people had said before since I wasn't trading ENZC before April 2021. Happy Labor Day to all and may this ticker see green on Tuesday! :)
(All posts are from 2021)
3/10 https://investorshub.advfn.com/boards/read_msg.aspx?message_id=162481459
IMMB still holds the rights to the “licensed manufacturing” of the ImmunH(ITV1-4). Why? You ask. It’s to cover the Approval in either governing body, whether it be here or in Europe.
Not one person can prove(with an SEC document) that Enzolytics Inc. owns the patent on the ImmunH(ITV1-4). Enzolytics has a license agreement to manufacturer the material but that is it.
Until proven otherwise, "The Zhabilov Trust" OWNS the patent has and always will.
Which means that the The Zhabilov Trust can sell ImmunH(ITV1-4) to the highest bidder.
Leaving both of my investments in IMMB and ENZC high and dry.
Why would the Zhabilov Trust sell the patent when they can just make multiple license agreements?
Their current EXCLUSIVE licensing agreement with Immunotech (which was transferred completely into ENZC) has already paid out $775,000 to Zhabilov and $775,000 to Ara with 5% royalties being split between the two from the worldwide sales.
I'm sure the sub-license agreement to the subsidiary IMMB BG is being dissolved right now due to the notice of default being filed in Sofia (I'm thinking that Dimitar is either being strong-armed out of the deal or bought out by making his restricted shares into unrestricted so he can sell on the open market.) And there is likely a new sub-license agreement being made with the new subsidiary IMPL so they can commercialize in Europe (which would be sub-license to the Exclusive Licensing Agreement with Enzolytics).
Harry and the Zhabilov trust will be making money with ENZC through royalties from the ELA &&& through the increased share value between the hundreds of millions of shares that they own collectively (both common and preferred).
IMMB is completely out of the picture here and will not be receiving anything so I don't know why anyone would own shares there.
IMMB is dead as a ticker. All of its worth was transferred into ENZC.
Pages 9 & 10 in the annual report go over this.
IMMB can burn to the ground because it owns nothing after the asset purchase was finalized. Harry doesn't care about something that is worth nothing now.
What did ENZC, or at the time Eco-Petroleum Solutions, pay IMMB for the transfer of assets? If there was a Share Exchange Agreement, how many shares were "exchanged?" Meanwhile, Immunotech Laboratories BG states on it's website that IMMB owns 49%, not ENZC...
Immunotechlaboratories BG
Thus, still a matter of controversy.
Assets may not be simply be transfered without consideration. Documentation of such consideration is still murky, so it is difficult to conclude that IMMB is merely a "dead ticker" or an empty shell, or that anything was ever finalized. But if you have a specific reference, please to share. Otherwise, with respect to ITV-1, perhaps ENZC is the "dead ticker."
IMMB BG is a Subsidiary of IMMB which was the parent company who had the Exclusive License Agreement. Harry the majority owner of IMMB.
IMMB BG has a Sub-license agreement with Immunotech (which is now transferred to ENZC) and is how Harry is able to go after all of the clinical trials data from IMMB BG in Sofia which was transferred through the asset purchase agreement.
ENZC "paid" common stock to Immunotech and paid off debts owed by Immunotech according to the Annual Filing
On March 26, 2018 an asset purchase agreement was entered with Immunotech Laboratories, Inc whereby the Exclusive License Agreement for the Patented Immunotherapy Treatment for the care of HIV/Aids and Hepatitis C patients, the Forty Nine Percent ownership in Immunotech Laboratories BG, all equipment and licensing of intellectual property associated with the Patented treatment in exchange for a secured note receivable, common stock of Enzolytics, Inc. issued to Immunotech Laboratories, Inc. and assumption of certain debt from Immunotech by Enzolytics, Inc.
There is definitely an ongoing dust up between Dimitar and Harry. You can also check the Immunotech BG Facebook page. Dimitar is clearly not happy.
As to what you quote from the filings:
On March 26, 2018 an asset purchase agreement was entered with Immunotech Laboratories, Inc whereby the Exclusive License Agreement for the Patented Immunotherapy Treatment for the care of HIV/Aids and Hepatitis C patients, the Forty Nine Percent ownership in Immunotech Laboratories BG, all equipment and licensing of intellectual property associated with the Patented treatment in exchange for a secured note receivable, common stock of Enzolytics, Inc. issued to Immunotech Laboratories, Inc. and assumption of certain debt from Immunotech by Enzolytics, Inc.
The investment representing 49% ownership of IMMB BG is reflected in the Investment in Subsidiaries on the Holding Company balance sheet. The investment is carried at cost. With the cancelation in February 2021 of the Sub-License agreement and termination of all other contractual ties to IMMB BG, the Company will begin reviewing the value of the investment at the end of future reporting periods and write it down to Market value, which may be zero as IMMB BG appears to have no operations, Intellectual Property or other assets of value. IMMB BG’s sub-license and distribution agreement from the Company has been cancelled. IMMB BG has never had any rights to the Intellectual Property or Manufacturing rights to the treatment, only a distribution and licensing agreement for certain territories. The President of IMMB BG is not and has never been an officer of the Company or IMMB from which the ITV-1 treatment and 49% ownership of IMMB BG was acquired.
Yep, could be right!
Definitely not trying to spread FUD. Some people clearly don't want to talk about bad news. I'd rather present the links for discussion and stand corrected if I overlooked something, than get caught off guard by yet another OTC willing to misrepresent itself to investors. Thus far, ENZC has represented itself with integrity as far as I know! Big points in their favor.
You'll catch me on my other posts affirming how strong the pipeline looks for ENZC whenever the floodgates open. There's a lot of great DD on positive topics circling these boards too. :)
I want to believe it's that clear-cut! But
ENZC also alleges that Savov agreed to additional commitments but breached his promises and as a result is not the owner of the shares. Those commitments as alleged are (verbatim):
i. Transferring to Enzyolytics of 49% ownership interest in IMMB BG, a subsidiary of IMMB;
ii. Transferring all rights belonging to IMMB under a certain Sublicense agreement;
Let me rephrase. If The Zhabilov Trust made agreements with other parties prior to working with ENZC, and those parties now have stake in ITV-1, wouldn't it be required that all controlling parties agree to sell/transfer/sublicense and not just Harry?
(And maybe not! It depends on if such agreements restricted Harry from making other deals. If he was smart about it, they shouldn't.)
Gotcha. If Harry is in control of the patents, it doesn't matter what Savov says or if he got scammed.
Do we know for certain Harry is in control of the patents, free and clear? ENZC and Harry can (do?) both make that claim, but are there official documents that say otherwise?
Harry's name and The Zhabilov Trust are on this patent: https://patft.uspto.gov/netacgi/nph-Parser?Sect1=PTO2&Sect2=HITOFF&u=%2Fnetahtml%2FPTO%2Fsearch-adv.htm&r=8&f=G&l=50&d=PTXT&p=1&S1=7479538&OS=7479538&RS=7479538
Savov is listed with IMMB "Officers, Directors, and Control Persons" in this document http://www.otcmarkets.com/otcapi/company/financial-report/165977/content
If IMMB BG "owned" the patents, wouldn't it be required that all controlling parties agree to sell/transfer/sublicense and not just Harry?
I'll keep digging!
That explanation could fit with what I'm seeing as well, and that would make the Savov lawsuit important but not necessarily show-stopping.
BUT
Read this press release from ENZC from 12/1/2020 https://www.otcmarkets.com/stock/ENZC/news/Enzolytics-Inc-Completes-Merger-with-BioClonetics-Immunotherapeutics-Inc?id=282043
Godfather's Discord notes said (emphasis mine):
The lawsuit alleges that Savov was promised 71,900,000 shares in ENZC in exchange for performing several obligations under an asset purchase agreement. ENZC alleges that Savov did not perform his obligations, that the shares were contingent upon his performance and that he should not receive any of the shares since he failed to perform.
ENZC also alleges that Savov agreed to additional commitments but breached his promises and as a result is not the owner of the shares. Those commitments as alleged are (verbatim):
i. Transferring to Enzyolytics of 49% ownership interest in IMMB BG, a subsidiary of IMMB;
ii. Transferring all rights belonging to IMMB under a certain Sublicense agreement;
iii. Permitting and facilitating funding from IMMB BG to Enzolytics to pay for 1) vials for use in clinical trials 2) a validation order required by the Bulgarian Drug Agency.
On July 15, 2021, an action was commenced against Dimitri Savov, a resident of Sofia, Bulgaria, in the Court of Chancery of the State of Delaware seeking a temporary restraining order, injunctive relief, a declaratory judgment and damages arising from illegitimate and false claims made by Mr. Savov regarding his purported ownership of stock in the Company. Additionally, Mr. Savov has made numerous defamatory statements about the Company and its Directors. These actions by Mr. Savov damaged the Company and constitute tortious interference with the Company’s current and prospective business relationships. The Company intends to pursue all available claims and remedies against Mr. Savov to the fullest extent permitted under the law and is in the process of filing a criminal complaint against Mr. Savov in Bulgaria. As 49% owner of IMMB BG, Enzolytics has assisted with the filing of forgery and fraud charges against Mr. Savov in Sofia earlier in the second quarter as well. The Company is working to mitigate the damages caused by Mr. Savov to relationships recently announced between the Company and other entities.
Awesome post, thanks!
My concerns for now include
1) Are ITV-1 rights somehow entangled in the Savov case? Per Godfather's copy of court documents shown in Discord, ENZC claims Savov failed to transfer "rights" owned by IMMB and also failed to transfer 49% ownership interest in IMMB BG. Savov is listed with "Officers, Directors, and Control Persons" in the last IMMB annual report so he may still have control of whatever is disputed.
2) The yield sign and why it exists. (Some possible explanations given today here and here)
3) The company being silent on overdue milestones.
4) The current chart looking like this could go over a cliff soon without a catalyst. (Bulls are weakening as bears squeeze toward support.)
2 and 4 should stop being unknowns shortly, for better or worse, and 1 could be a nothingburger depending on what "rights" are really in question, how strong ENZC's case against Savov proves to be, and if ENZC is ready to move forward with or without access to some (all?) parts of ITV-1, if that's even affected by the lawsuit. 3 "speaks" for itself. :)
Behind that there's a pipeline potentially bursting with great news, as you have reminded us all!
Yeah good question! XD
It depends how the court views statements like these:
“In 2018, I received shares, which, I don’t know how much you know, were blocked when you received them – in the sense that when you sign the contract, you don’t immediately sell them to financial institutions. market, “said Ivanov, adding that this was the reason not to indicate them in the declaration of his ownership for the person in question.
That or the pressure on Savov could convince him to settle out of court!
Imo, the way this potentially goes bad for ENZC is if Savov gives up the shares but doesn't have to follow through on his IMMB promises. It's unknown at this time how that scenario would affect ENZC's path forward. (The language in the documents we've seen so far is too vague.)
From Page 22 of one of ENZC's recent OTC filings: (emphasis mine) http://backend.otcmarkets.com/otcapi/company/financial-report/297979/content
On July 15, 2021, an action was commenced against Dimitri Savov, a resident of Sofia, Bulgaria, in the Court of Chancery of the State of Delaware seeking a temporary restraining order, injunctive relief, a declaratory judgment and damages arising from illegitimate and false claims made by Mr. Savov regarding his purported ownership of stock in the Company. Additionally, Mr. Savov has made numerous defamatory statements about the Company and its Directors. These actions by Mr. Savov damaged the Company and constitute tortious interference with the Company’s current and prospective business relationships. The Company intends to pursue all available claims and remedies against Mr. Savov to the fullest extent permitted under the law and is in the process of filing a criminal complaint against Mr. Savov in Bulgaria. As 49% owner of IMMB BG, Enzolytics has assisted with the filing of forgery and fraud charges against Mr. Savov in Sofia earlier in the second quarter as well. The Company is working to mitigate the damages caused by Mr. Savov to relationships recently announced between the Company and other entities.
Yowch! Good find.
I'm still trying to figure out if ENZC has all the rights it needs to move forward with ITV-1 free-and-clear. They might win the lawsuit to get the shares back but the lawsuit claims, per Godfather's discord server:
The lawsuit alleges that Savov was promised 71,900,000 shares in ENZC in exchange for performing several obligations under an asset purchase agreement. ENZC alleges that Savov did not perform his obligations, that the shares were contingent upon his performance and that he should not receive any of the shares since he failed to perform.
ENZC also alleges that Savov agreed to additional commitments but breached his promises and as a result is not the owner of the shares. Those commitments as alleged are (verbatim):
i. Transferring to Enzyolytics of 49% ownership interest in IMMB BG, a subsidiary of IMMB;
ii. Transferring all rights belonging to IMMB under a certain Sublicense agreement;
iii. Permitting and facilitating funding from IMMB BG to Enzolytics to pay for 1) vials for use in clinical trials 2) a validation order required by the Bulgarian Drug Agency.
It's in the second chart, in the volume rollup on the right!
Also I've included the volume profile chart in fullsize later in this post!
The right side of the chart (a histogram of teal bars) lets us look at how much volume has traded at each price point. The known support and resistance levels form the bigger rightward spikes on the chart. We enter an accumulation period if trading gets sucked into a low-volume gap between two areas where lots of volume has already traded. Barring an extreme catalyst that keeps buyers or sellers in a frenzy, the market generally spends time at each level to make the bars in the histogram more or less uniformly distributed.
The session profiles (representing trading days) have a similar chart showing volume across the day's price range in faded gray. The yellow bars confine the area where 80% of the trading volume occurred and the blue bars show the price point of highest volume for the day. The pink line is an average and generally you want to see trading stay above it for most of a session for the trend to be bullish. There are instances where you can ignore runs that jump out of the range, but in this case it's important to consider that most of the volume this week has been to the bottom side of the collective price range if you were to collapse the sessions since Monday into one big session (that's the lowercase "b" shape I keep mentioning!) It's not a guarantee price will drop further but it plus the gap plus the lack of catalyzing PR are all strong signals.
How to trade volume profile:
RIP, I meant this as a reply to your post!
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=165755768
With price taking the hits it's been taking, it's good to see what people think might be driving it.
It had some trading action there this week but it's still too thin a line on the volume profile rollup, so it still potentially acts as a gap between stronger established support and resistance.
The market is naturally drawn into low-volume areas to see how trading behaves there. Does price hold at a previously undiscovered support line, or fall through? The effect is that price suddenly gets 'vacuumed into' such areas (with action like this afternoon's sudden selloff) until volume fills out and the rollup is mostly uniform again. That way there's clear support and resistance levels and fewer unknowns to help direct future trading when this runs again later. The idea is you can sometimes use the shape of the collapsed session profiles to help guess where trading will move next. (The lower case b shape says Down)
Sometimes the market will totally just skip a low volume area forever, as well! If there's enough bullishness building up, there are unknown levels to fill out higher than today's close that it could explore instead. I will note today's close is far below the pink average line on the session profile (bearish) and I don't know of any news catalyst