First, when I say the float is fully absorbed, I mean it in relative terms of price. From what I see as action in the 59/61 range, that tight float probably won't begin to shake loose until above 70.
Absorption of float is mostly inferred by behavior. But, there are indicators that can lend support, such as the accm/dist over time. Accompany that rising line with a near total lack of new shares entering the float at any time soon lends more evidence.
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