Bot Chart, page-21469

"Sell pressure and supply is relentless" ... you must be looking at a different chart to what I am, today looks to be the first in quite a while to have less than 10m volume.
The way I see it the instos are done selling but don't want the chart to show any clear signs of reversal just yet ... there is still over a month to go for the quarterly after all and I'd say they want to accumulate what they can here without pushing up the price just yet. The way I see it is they are not getting the shares they want because volume is now dropping and I suspect that retail who have absorbed most selling over the period of the sell down is still buying alongside of them and they struggle to maintain the price.
I don't think the instos managed to get anywhere near they wanted from triggering stop losses and are now stuck. They have limited time to accumulate and from what I can see retail are not selling at anywhere near the rate that they would like.
Supply is pretty dried up here at this level but the problem for them now is that once this prints a clear reversal and an uptrend appears the likelihood of FOMO spoiling their accumulation party is very high indeed.
I'm still accumulating small parcels although for the most part I'm set and good to go, just a matter of replenishing my store of popcorn in the cupboard before this starts moving back up again.