IMO what is obvious and has been obvious for a while is that there is a smart seller out there who has been unloading their position for at least a week now. They keep reloading the sell-side and will hit the bid often with force when it is stacked.
Broker Data that @Key Sole provided indicate that for its mostly retail action on either side but Citigroup is the main buyer and stands out.
I think Citi clients who IMO are mainly Chinese and affiliated w/ 61 Financial are accumulating a position here likely in anticipation of trial results, ARDS and OSA likely to get news on very soon.
As much as this seller has been active, there is enough buying to counteract them. IMO its Citi buying most of what the seller is offloading.
But who knows when this major seller will run out of ammo? I sure don't, but when IHL releases substantial news about trials then they will likely sell into the liquidity hard. Thing is, if they do this then once seller is out buyers will be en masse and IHL likely to move north.
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