It seems rather noteworthy to me. (long reply)
I'm certainly not a TA guy, but do like to view things in source/sink fashion. The Apr 15 spike that brought the obscene volume and all the momo board chatter did what those things tend to do (IMO). The source was momo players and algorithms, and the sink was the same. If the source and the sink are the same the landing point tends towards where one started, with the more capable players being the winners, and the less capable carrying the bag.
This later surge which lacks the momo chatter has seen some pretty steep volume, indicating at least some algorithm activity, but the retraces are generally on weaker volume, the retrace lows are consistently higher than the previous retrace lows and so on.
In my perception this reflects a deviation from source=sink trading.
Given recent "opportunities" at around a buck a share, and given the teaser of the Apr 15th mega-spike, it seems many traders & wavoids bought a bunch in the trough after the spike to flip into rallies and volume, but it seems at some level there must be an additional sink for the SP to hold as it has been (and if it holds through the short week ahead).
To me, that indicates that Wave is attracting some new investors, something it hasn't done in a long time. The various news thingys plus the new management do seem to have loosened the purse strings of those willing to take rather speculative bets (and the dying years of the previous management fiasco simply couldn't pass the sniff test).
That is certainly true for me, and I find time and again I generally can look back and see that I was generally part of a herd. I've have spoken in the past about financial adviser friends who had Wave on their radar years ago and simply Would Not Touch It - a sniff test thing, they are investing other people's money and they simple Could Not Do It - the harbor was a joke. These are people well versed in things like computer security with former employment at places like DIA in the electronics side of the business. I asked last week and the gist I got was that they are now willing to at least consider the equity for high risk investing. Cash-flow and balance sheet are still a mess, but high risk investing is about direction, not the starting point.
With a recent mcap of a measly $35m it does not take many of these folks to provide a sink (and hence support) for some of the recent volume, trading, and Wavoids trying to scratch out a return.
I believe there are some new people actually investing in WAVX.
Fancy that.
The above content is my opinion.
