"I would have thought that many of those Soph’s that bought in at 18 cents at the last CR and have watched the SP fall to 13.5 would have been pleased to get out at 18 cents or anywhere near that from an opportunity cost perspective to allow them to put their funds elsewhere."
I don't know about that but I suppose why they're called "sophisticated" investors is because they must had some experiences or knowledge in the financial market or they get plenty of money, so if they see something wrong or somewhere else has better investment they would sell at any time without waiting for it to get back above 18c then sell.
I think tomorrow is important because we closed at 17.5c which is daily low of Tuesday's candlestick and below LT EMA, so we want to see a white candlestick or doji tomorrow to show that it has reached the bottom/support, but if another black candlestick like today then it won't look good, imo.
LRV Price at posting:
17.5¢ Sentiment: None Disclosure: Not Held
(20min delay)