My views on this stock from a chart/technical perspective:
I have noticed lately that larger price movements to the upside all have volumes averaging >$10,000. Whereas large price movements to the downside are all averaging pocket change. The only conclusion I can gather from this is no one wants to sell.
IMO, Market maker is keeping price range down, perhaps to incentivise liquidity above, for public trades to occur. The more liquidity above means bigger attraction to larger investors who will cause too much spread on small caps. Still consider this veryyyyy low liquidity but it’s a start. We’re still sitting at the bottom range of this stock since it’s low of 0.9c in 2020. This range has held ever since, doesn’t make sense to me from a technical perspective to break that floor unless bad news arrives. Once again imo, this trading range we’re stuck in now is some of the best prices this stock will get for an entry. Seems more of a gamble to try order for lower than buying spot now.
All imo, but I wouldn’t be surprised if we’re trading back up between 2.0-2.5 by the end of the year, without news. With news… that’s a different story.
KP2 Price at posting:
1.4¢ Sentiment: Buy Disclosure: Held
