BioAmber Inc (fka BIOAQ)

[SOG]

Initially and persistently the action looks like conversions intermixed with significant shorting. However, we know that conversions aren't supposed to occur during the current time due to court orders.

Additionally, warrants aren't supposed to have a dilutive effect on a share price.

At times like these I turn to confliction of signals to determine short term direction.

For example, if all chart indicators are sideways or relatively flat or slightly down, but there appears to be significant sell pressure, this indicates to me there is a significant level of interest and bullish tendencies. If both chart signals and L2 action match, i.e. down significantly, this would be completely bearish.

In this case, we are relatively flat but with what appears to be large sells intermixed with sporadic large buys. This represents a confliction of signals and therefore why I remain very bullish.