Well this is very interesting. I have pulled up a distribution/...

Well this is very interesting. I have pulled up a distribution/ accumulation table using both PAN & POS (I am sorry to use POS as an example but note it is currently being sold down so thought this would make a good comparison).

As PAN has fallen from $0.38 to $0.175 a share, the accumulation volume has aggressively risen currently sitting at +51.29m shares - Can we assume that retail has been selling in this market panic while institutions are swallowing their shares along the way down?

"Is accumulation bullish? - Bullish and bearish divergences are where it starts getting interesting. A bullish divergence forms when price moves to new lows, but the Accumulation Distribution Line does not confirm these lows and moves higher. A rising Accumulation Distribution Line shows, well, accumulation"

Now compare distribution/ accumulation on POS, it has been in distribution since late last year, currently sitting at -2,076b shares.

This is starting to make some more sense now, the volumes on PAN have been really tight in the last 8 weeks (with some days trading sub 2m shares in total) so it is really difficult extracting volume from PAN should one want to accumulate shares (Especially when the top 20 are holding tight with about 72% of the register), So how do you extract more volume? by pushing down the share price to create retail fear, panic, capitulation and then swoop in to buy it all up (Do this using rinse and repeat model) and you get the aggressive accumulation currently taking place in PAN.

Anyone prepared to figure the next move?