I see all of what you are saying and during that time when it was going up, the accumulation distribution line was going up, and you can see when the dilution happened it went down matching up with the red candles. Then it went up again like you said but the shares were being accumulated.
Now you have two bad things happening at the same time.
What Does Dark Cloud Cover Mean? In candlestick charting, a pattern where a black candlestick follows a long white candlestick. It can be an indication of a future bearish trend.
2) Major dilution
IF I owned this stock I would be selling right here, then buying back lower once I saw the accumulation distribution line going back up. But you can see it is only going down hard.
And with the dilution going on by the accumulation distribution line is shows that this will be going down for a few days then recover.