WSI Charting, TA and FA, page-200

Thought I would share broker data with you all. BTIG absolutely DUMPED their holdings on Wednesday, see below screenshot, over $500k in one day!!!



What makes this even more interesting is that they have had these shares for a LONG time. They bought a net worth of $350 in all of 2020 with nothing bought in 2021. I would be really interested to find out who, what, why - may email the company and ask as they will know who it was. I have my suspicions that it was a top 20 holder getting out and the way they did it was very poor - most brokers will respectfully drip out shares but this one dumped and ran.

This dumping is IMO what hindered the continued growth in share price as it scared way too many people and killed all momentum. It relieves me and hopefully others as you could suggest that this selling was one main person that got out with other brokers sales at a respectful level, even Argonaut at $100k is understandable given the rise over the previous month.

This thought pattern is further confirmed by the Thursday data, where we see a shift to a few more retailers selling (they were primary buyers on the Wednesday - mostly traders I'd say) and no consistency in brokers selling either. See below.




the important data will be Friday, which is where I ENTERED this stock for the first time at 2.7c - volume had reduced significantly and this signalled a buy for me. I nearly sold on Monday morning but chose not to and decided to hold for a while (I'm not a trader, anyway) and see how things unfold, especially data from Friday and then Monday. If Friday shows more retailers selling and this continues on Monday with pros buying, its very positive.

Monday and Tuesday's buying action looked pro, today 2.8c was sold into and immediately 4m shares came into the buy queue. This seems like accumulation but data will confirm this on Friday.

Fundamentally, this is undervalued. There's enough people on here that have explained it and those with negative opinions are seeming to be more upset about this insider trading conspiracy, which is a good sign (I believe the data shows no insider trading given the biggest seller by a country mile hasn't bought shares in over a year).

good luck, everyone. I dont think this is the overnight sensation you may want, but I envisage dividends in the medium term if they can continue winning these sorts of contracts and delivering 10-20% margins.