It does 'appear' that most metrics have shown an apparent support level at around the .49 mark. Now we are either some sort of accumulation mode. [distribution?] .
I have been following patterns of selling since the previous highs, and a look at the prior change of substantial holder anns, POSSIBLY indicates that uncle Merrill may be cycling through their part of the register, both profiting on the way up, then perhaps buying into the weaknesses , on the way down. It is not as though it is anything unusual for many small caps of late. MOney going to BHP or to cover margins perhaps.
The selling pressure had been relentless, and for that small period of about 20 mins on Friday afternoon when the selling stopped, the buyers quickly stepped in again. A large buy at auction 'indicates' [?] some new strength, hopefully. Come today however, more selling pressure into the liquidity, albeit with less momentum.
As the register shows as little as 17% retail ownership, you wouldn't be blamed to think that perhaps institutional or larger investor activity may be the catalyst for the last month's price action.
This is screenshot of a little bit of activity a few days ago. Note the trigger points and the time frames. This had been happening for days.
Nice little triggers by the market makers. Feels great to know that you can offload single trades for next to no fees, while retail buyers have no chance, or can be jailed for 'illegal' algo trades...
MLX Price at posting:
49.5¢ Sentiment: Buy Disclosure: Held
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