calculated sell

Yesterday afternoons dump of 4m late in the afternoon was a very calculated attempt to create a bit of panic. Buyers had been stepping up to 1.6 all afternoon, then the seller dumps on market over the top of a small amount of sellers at 1.6. The price has been delicately poised around support for a few sessions - you see this sort of attempted manipulation on speculative stocks. Looks as though this tactic may have backfired.