The lowest 5-day average is actually 1.368. Not 1.388 as I mentioned earlier.
But yes, the 500k (surprise) increase in O/S coincided with that low of 1.368. At that time the share price wasn't even going down (because the real low was something like 1.27 one or 2 days earlier). But, the 5-day average was still going down fast as you can see.
So that's the theory I offered. So far, so good. Because we haven't seen an increase in the O/S for the past 5 days.
The last couple of increases occured with only 3 trading days in between. So no rise for 5 days, now, is significant IMO. Fingers crossed.