Well unfortunately I don’t have a magic crystal ball and don’t know what’s on the sellers mind.
But there are patterns that give indications and there are support & resistance levels that active traders use to determine buy & sell points.
There is one 60k block that’s been posted for sale by MM INTL yesterday and today @$0.40 and just moved down some to $0.38, so that block will most likely be absorbed today either at a lower BID or maybe a Buyer steps up?
The ma (50) sits currently @ $0.405 and this mornings open trade of 75k @ $0.40 with a quick flurry of sellers establishing orders from $0.38-$0.39 indicates resistance for now and a technical trader would try to sell some shares around these levels and try to re-buy lower at round numbers $0.35 or $0.30 or even looking at ma (200) @ $0.231 for extreme low buy point. The technical trader would ALSO BUY back on a breakout above $0.40 - $0.405 resistance zone.
Now longtime buy & hold investors are sitting back here and sipping probably margaritas somewhere (since it’s always 5oclock somewhere) and probably forgot to look at the daily share price of MRGE for the last 2 or 3 days! They check in weekly or when news hits ;)
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