I think I didn't express myself correctly. The stock had a nice run a few years ago, and it has since consolidated and formed a base - which is often what happens after a move up or down.
This stock has essentially been in a base for 2 years - with no major accumulation or distribution. It is in a range bound trading pattern or "channel" as some call it. I think you may be too focused on looking at the ask size, and not looking at the big picture. With the low trading volume of this stock, I think this just magnifies this effect.
There has basically only been one trade for this stock for the past two years - buy around 4, and sell around 6. Whether it's one person doing this trade, or a small group, that is what is occurring here. So what you will normally see here is the ask size increase as it nears 6, and the bid size rise as it approaches 4. Again, due to the low volume and float, this may seem more magnified.
The MACD has basically been flat for two years. To have a slight price drop after a major market sell-off is nothing to get worried about in my opinion. The Coronavirus really has no impact on this company. Things that we need to get some momentum going are sector-wide rally, bringing the marijuana breathalyzer to market, increased earnings and patents. I will say that it looks like Lifeloc is starting to become a little more proactive in press releases and social media... maybe a sign of good things to come?
