You know what, I can't help feeling that your observation is right on the money, but that also all the recent commentary is also just as correct, and that they are not necessarily mutually exclusive!
I threw myself in to learning how to drive the charts almost a year ago now but feel I'm still on my P plates. I mean I can drive them pretty well now, but I just don't have the miles under my belt - the experience under all sorts of conditions, to see some things as early or clearly as experienced drivers like
@Hingdog . And CLV behaves a bit differently to many of the stocks I follow, which are typically traded in much higher volumes. For instance, the recent (short term) downtrend we can all see has been like watching a balloon slowly deflate, rather than preceded by any sort of high volume selling event or even signs of strong selling pressure that are usually present. Ok so I'm used to that now.
But some things to me still suggest patient accumulation, with heavy buying towards the end of March and more recently the occasional heavy buying at some key support levels- then it's left alone to slowly deflate. It's very interesting to watch, and as Hingdog mentioned earlier there could be a few months of this to come.
So perhaps looking at a longer time frame chart might provide a different perspective, and attached is a weekly chart I was looking at yesterday. It packs a lot more information into each bar and gives a cleaner picture and stronger signals compared to the daily and I was looking for some strong "lines in the sand". Check out the 2 bar reversal that appeared- it just needs to close above $2.10 on the weekly to complete a very strong sign of strength. There's one line.
The other line(s) for me is at about $1.88, which was a previous pivot high and where strong buying came in again to push price back up to where it is now. It doesn't appear to me to want to go much below here before buyers will step in, but of course could float down again. If it dropped below $1.80 then that's when I would think the mid to low $1.60's could come in to play. So there's another couple of lines.
Long term aside, very interested to see how this plays out over the next couple of months.
(20min delay)