Blue skies have a way of making shorts nervous. But at the same time, it draws their attention to keep an eye out for weakness. Not everyone can find shares either, especially on the OTC. And if shares can be found, overnight margin fees can be ridiculous. Some of the selling you saw could very well be from some of the financing. That would make sense to me. And of course there could be a group that was riding just for a percent gain and then said see ya.
But I come back to my "blue skies" comment. Consider the data that is soon to be released and then their planned pathway for further trials including expanding in the U.S. That's all great of course but then if one actually looks at the science? And the potential? I like the technology, and it makes sense, and from what I've seen so far, it friggin works. You have to go all the way back to inception as a public company to find resistance from where we are now. So, as we move forward today and the weeks beyond, keep an eye on how weakness is absorbed as the ones that are just simply here to make a quick buck move on. Each step in the chart will give us support and as ("if") we cut the resistance through the $ - 1.30's gives this even better support. A healthy consolidation is always good too.
"Perfection is not attainable, but if we chase perfection we can catch
excellence." Vince Lombardi
Do your research! Play the TA. All posts are my opinion.
AI
