Got it in one! This pattern is evident in lots of smaller cap stocks where a determined trader is able to nudge the closing price down at will. Its that close price that goes into all of the charts, so chartists who do not also closely follow the trading patterns get the impression that no-one has any confidence in the stock - and that can impact the owners of that stock also. I also think you are right to shaft the responsibility for this to those with no cost access to the market. They do whatever they like. And that includes being both sides of the trades. Small holders just have to be aware of this before they act. They are being played.
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