Charts, page-3948

Haven't posted a chart in awhile because the structure has been quite loose.
Right now volatility has contracted which typically happens prior to a relatively larger move.
Price action is very algorithmic and has been for a few weeks especially. These programs are deployed to efficiently distribute or accumulate. To do that shares must be pried from loose hands (in either direction).
I also think a lot of the liquidity is being traded against mean reversion strategies - price will continue to move between some bands until the supply is more weighted to one side (due to someone accumulating in the noise). Price typically follows the path of least resistance from that point.

The stepped nature of 2 steps forward and 1 step back, to then totally reverse and take all the engineered liquidity is designed to frustrate traders. I think once we see that behaviour complete the primary operator will run price up again. On the otherside this could be a distribution campaign being run by an entity who took a big position in the cap raise. Or maybe something else entirely? Either way the trades are a little difficult at the moment so the best approach is to buy or sell on the right side of the move, which you have to wait for. The amount of price compression is signalling it isn't far away.