BUB consolidation seen in this chart
PRIOR to the 15c Breakout took
8 days of sideways price movement. What we can see is that the 15c Breakout was as a result of almost EVERY single short position closing out positions from the lows back on 20th February causing prices to lift higher.
Since the breakout, prices have come back to 14.5c/15c zone, except we are now 1
1 days into consolidation
It has taken several more days for any directional move all without ANY news, without ANY Substantial Holder notice
Attached below is an updated Daily & Weekly chart for further examination (I really should have started a charting thread myself)
This week had 1 less trading day, 1 less volume to add to the stats
Prices had a reversal DOJI when it hit the highs of 17.5c indicating a pullback.
Prices have now pulled back into the prior 14c level and still is indicating a reversal. Don't know what this signals yet.
We had nearly $300,000 of an ASX order being hit at 15c as Buyers were sold into on 23rd April. Confusion to the maxAs of last few days, there has been a shortseller adding abit over 400,000 in total.
For starters I as a retailer couldn't get any borrows from 17.5c or any price lower, so it's a Soph that has access to borrows and aren't looking to trap Retail on the Short Side as of yet.
All this tells me is
UNRELIABLE DATA for Market Manipulation. There isn't enough shorts yet to create a push up due to short covering.
VOLUME analysis indicates prices have come down for several weeks with supply decreasing (seen on weekly chart more clearly) despite someone clearly in control of the price here as can be seen by the order book in an attempt at lowering prices which so far they have been quite successful in doing.
"Confused People Do Nothing" learnt this in sales. That would explain why so many are on the sidelines here waiting for things to unfold.
Whoever drove it up on volume on 15th March, took partial profits on 27th March (day of Breakout) and offloaded most likely the rest on 10th April meaning they have little to no long position. Just as confusingly, they have stacked Chi X Buy orders like no tomorrow. Manipulation at every front with NO direction. How can this even be when
TOP 20 DONT EVEN HAVE 300M SHARES? The rest is ALL retail (over 550M shares) the skin in the game is zilch! Too bad there arent retail shorts as I would have liked to bet against this now to hedge against my position also SENTIMENT DURING SIDEWAYS ACTION IS NONE! Cannot Hold, Cannot Buy, Cannot Sell, just a further waiting game. I am watching WORSE companies going parabolic and its stinging me I can't partake in the volatility around me. One would think babies are starving or that this company was listed in a region where genocide is taking place. I have personally held a small unit of shares relative to my miniscule account size. More annoying is the opportunity cost where I could use that capital elsewhere. The drawdown would have more than been made back had I traded other things with it
Have tried locating shorts but prime broker has nothing available yet. What a shame!
(20min delay)