I think the stagnation has many facets...
The actual conversions have apparently stopped, but that doesnt mean that all of the converted shares were sold yet....I think we are getting ever so much close to that point though...
Buyers are wary of bidding more than .055 - .056 or so because the price has been dropping below it every day, and every time a large bid is up there, it gets hit very quickly....
This has substantially dropped volume as people want absolute confirmation that the selling is done....
This stock is being flipped every day (some people 2x day easily)....Most flippers dont hold past end of day in penny land....They dont care about closing price, just taking whatever profit they can before EOD....this selling stops any potential rally/run short term..
Basically....we need volume here from the buying side of at least 8 mil a day or more to have a chance to move and continue to climb higher each day...12 million a day would be very helpful right now IMHO....Once this stock closes above .06, and continues to rise, then many chart followers will start coming in here....
Good Volume will help outrun the flippers, but to get it going may require some positive Pr's from the company....otherwise, we should start seeing a fairly slow climb up by next Monday at the latest....I really think this is ready to take off very soon...
I wouldn't have bought 1,007,500 shares unless I really believed this was the stock value of the year....
JMHO
GLTA
RICO
