Mesa Air Group, Inc. (fka MESAQ)

[Wheeeeee]

I dislike a stock trading along the indices. DOW SPY NASDAQ kinda trade the same. What this signals to me is that there are still people in selling when the market goes down.
Ideally a flatline would be nice. That means that there is no intent of selling. Best would even be that the price doesnt really move, but the ask gets nibbled steadily.
That means that its under accumulation. Happens nicely when the moving averages are rather close.

When noone wants to sell a buyer would have to increase its bid to get in. Often you see that when volume completely dries out that it get accumulated, perhaps the big ask gets nibbled. On L2 you will then see next to no shares offered at higher prices. Price can move up fast then (this is VERY visible on low float stock).