I wonder what is there to do a technical analysis here. poor anemic play. less than 500k-600k volume. Before there were 2 or 3 MM controlling. They used investor sentiment(fear or anticpation on approval)to move the price down or up on low volume. Now more competition, 5 active MM trying to make money with this spread. if you look at the last 5 trading days price action, who is controlling the price, you or me or any other retail investor? NO. it is in market makers land. They use the downtrend, creating panic in in the first half an hour so with few number of shares which then triggers more selling from panic traders or shorters. Then they raise the bid and ask to sell high within the spread and at the end of the day they prepare themselves for the next day action. These MMS take a turn within a trading day (CHDN/AUTO/ETMM/NITE) to use the spread to make money. They are in full control. They are all well co-ordinated. They know where to start and where to end(to prepare for the next day). You do TA on 4 or 5 people controlling the price not based on aveage volume of trading the stock. it is all non-sense & manipulation Here you are in MM's land. Throw the chart now. it is not going to help you here unless otherwise you have a hidden agenda to guide/drive the people the way you wanted.
Approval news and other following catalysts will take this stock to an unbeliveable high. Until then it's all their play.
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