I am quite sure now that AKE has entered the Distribution Phase. The Mark Up phase was skipped with that big gap. And because the merger is still months away, it is unlikely that this distribution phase will transform to re-accumulation.
The Preliminary Supply and Buying Climax markings are tentavive. If sometime this week the sp goes down to lower than the low of the Preliminary Supply ($14.40) and then reverses up, then that confirms the markings are right. And because of this possibility, I think, despite Livent and the future market finished up, AKE still can finish in red tomorrow.
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I am quite sure now that AKE has entered the Distribution Phase....
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