It’s pretty clear this is being pushed lower, not just drifting down naturally. You can see it in the way the sell walls have shifted - first at $0.220, then $0.210, then $0.200, and now we’re sitting at $0.180. I watched it bit by bit, and the pattern is obvious. This isn’t just a case of weak buying, it looks like a deliberate effort to control the price and squeeze it down.
The volume hasn’t been massive, yet every small rally attempt has been capped, and sellers keep moving their walls down just ahead of the price. That’s not typical organic selling FYI - it’s either someone accumulating or purposefully forcing weak hands out before letting it move. And by weak hands, i'm referring to retail holders.
I've seen this play out before many times - big money doesn’t want to chase higher prices, so they suppress the stock, create fear, and let impatient holders do the work for them. Meanwhile, the fundamentals haven’t changed—$60M in revenue is locked in, tenders are still there, and the business is in a stronger position than it’s been in years. If this really was a broken business, we'd see much heavier volume selling. Instead, it’s a slow grind down, not a collapse.
At these levels, it’s looking like a ridiculous disconnect between price and fundamentals. Patience wins in this situation. Gotta have the balls of steel.
MCE Price at posting:
18.0¢ Sentiment: Buy Disclosure: Held
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