Let's just say, the more a share price is traded at a...

Let's just say, the more a share price is traded at a level, and is held there, the more that key level becomes a support level. Generally issuing shares at an XX gives the stock a sufficient price to attain is value from.

Okay put this into perspective sure like say of the 180+ mill issued shares have been given to sophisticated investors. I'll make this simpler, over the last 3 days since issue 35m/187m shares have be traded between two parties, a seller and a buyer. These shares may be dumped onto the market at any given price, seeing where the SP is right now we are at the CR price. No more profits can be achieved for this "pip trading" sophisticated investor, so look at it like this, 15% of the issues shares were dumped into a profit taking range.

Looking at how the whole market is doing, I wouldn't say the whole sell off is entirely based off a pip trade dump or even merely a reversal trend back to the CR price. Some traders may be shorting the stock, some other may be de-risking themselves to market conditions.

New potential buyers, are well aware of the capital raise at 8c, and many of them are hoping to take the advantageous opportunity given to them at a lower price.
I'm aware of actually a few sophisticated investors who have been topping up their original buy between the range of 8c ~ 8.5c