"bid break of .0024/.0025 sets up AUCI to test .004 "
notice at that time i said 'to test' the resistance, and did not mention the break of it. it was for the same reasoning as i called it today. it's a lack of sustained buying volume on the ask side. there's not enough pressure here to force the seller out.
below this post is the 6 month weekly. take a look at the bottom 3 indicators from the beginning of May. now look at all the stochastic indicators and the williams from mid-april leading into May. lastly, look at the CMF and notice when it went negative. those are all signs that there's a seller and a diluting one at that. more to the point of your question, he's not done.
today's candle is a bearish harami. this has got to hold either the 200ma at .0016 or the triple bottom of .0015. it prolly depends on whether the seller wants to camp down here or sit up above and wait to be swept away with something like news driven volume. there's a possibility here that this will go to .0011/.0012.
all of that 'negativity' aside, the dilution here is minor compared to the potential of the upmove. though this is no longer the skinny stock it was when it went to .0052, it's still thin. and the story has not been busted. they have undoubtedly had to sell shares to cover the costs of setting up and initiating an r/m. that's the likeliest cause i can think of to the dilution. but the daily charts show this can be run. unfortunately, until the weekly begins to turn, those runs may be mostly short and unsustainable.
of course, everyone is free to disagree. i am wrong often enough.
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