trocprofit,
Buying comes with a bargain because everyone is holding with minimal selling but that selling is partly manufactured by shorting to create a market and subsidized with traders doing the same and those who need to sell a few shares for cash flow purposes to create the bargain where buyers come back in. It’s a simple waiting game now and no one is trying to create a dramatic situation because they could get caught with eyes on this one and because longs are battle tested and won’t fall very easily for the tricks anymore.
Buying comes in near the slow long term up trend baseline even if that trend gets “waterboarded” a bit. Until news there will be no other trend or cycle that explains the trading pattern better even though minis are embedded along the way. The long term trend was broken in 2020 with news starting in the summer about data lock being expected. Once that news came and went and then Flaskworks was bought additional supporting news dropped off and the time delay caused a return to the longer term lower angle trend line. Once that was waterboarded and Mr Bigger bought some more below $.60, the return above trend line came and the continued waterboarding of it ensued. Support comes at the trend line and you can call that MM support or just plain market support but the fact remains there is support on or near that trend and that support sure looks like it is there for the very same reason longs are still here. Best wishes.
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