We’ve seen this before. It’s either someone who couldn’t deal a pack of cards or it’s a cap. I don’t believe that people actually bother trying to hold stocks from running. Perhaps it’s happened from time to time but IMO it’s unlikely.
A more reasonable explanation is a genuine seller with poor execution. As Ted said earlier, this “person” will either sell down because he couldn’t get 28.5c (surprise) and then the stock bounces. Or alternatively he gets wiped and IHL goes through 30c. Either way he or she wonders why they never seem to get a very good price on their execution. $19.95 brokerage and leave thousands on the table.
When IHL lists in the US it’s likely to have its head ripped off IMO and there will be some traders wondering why their squiggly chart lines and discount brokerage didn’t foresee the opportunity.
If you don’t understand the business or listen to those who do then your charts mean nothing. It’s just one tool but ultimately the fundamentals create value.
IHL Price at posting:
28.0¢ Sentiment: Buy Disclosure: Held
