It's getting real interesting now.
Logically, it will take phase 2 first patient first dose news to burst thru the breakout point, and this is not anticipated until at least a week away.
The pattern has changed, however. I fully expected the share price to drift back towards the low 4's and into the 3's like it has repeatedly done, yet here we are half a stone's throw from the breakout point, and the sellers have suddenly gone into retreat.
This is how it works with smart money. Get in quietly, stealthily, and build a big position before news.
It's all so quiet now, but it also clear there has been a whale buying - and not scared to chase into the high 4's in an illiquid stock. No retail does that.
It signals the whale not only knows what they're doing in the biomed space, but also what could come - as some of us here suspect - in the near future.
Still think in the meantime we drift back on low volume so the whale can load up again, but not sure anymore.
What I am confident in is if we breakout past 5 cents, it will be blue sky ahead.
GLTAH
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