It's still a mystery to me the way this stock behaves. With institutions buying, Swedes, non-Swedes, friends, etc you would expect faster moves up. Especially yesterday or the day before, if it was institutions buying, then the stock should have been up 10-15%. But we have two market makers with an unlimited supply. I see the ask being hit around the clock, GREEN, GREEN, BANG, BANG, and they simply won't go away. Perhaps it's hedge funds or simply market makers with a lot of cash, who are convinced the stock is overbought.
Well, yeah, if you go up 2% for 7 straight days then the RSI suggests that the stock is overbought. But it's only 14%. We should be able to do that in one day under normal circumstances. So this RSI figure is kinda meaningless for us.
Why do they say the price is high at USD15?
Most people don't know what they're doing. It's about perception mostly. Even most analysts fall into this trap. It's kinda stupid giving the company a price target of $50 or suggest that people shouldn't pay more than $19 for the stock. There is this stubborn belief or conviction out there that these markets are efficient
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