@lewy1958 you are spot on. Alan Tribe's holding goes up by $9.7M for every cent increase in SP, and vice versa. If you had that much money, wouldn't you be happy to spend $1M to put a floor to the slide by buying 7.4M shares @ 13.5c?
So far, his wealth has been dented by nearly $34M with the SP dropping from CR price of 17c to 13.5c. So it makes sense to come out to sure up the market, first with a director's buy, then followed with a new release today "Progress US Clinical Stage Company and Corporate Objectives".
TA is purely mathematical and I have pointed out BOTs madling with the closing price on many occasions. I would say the current SP is skewed to the low side than it should have been had the BOTs were not there. Personally I see this is a LT buying opportunity when Alan Tribe has hinted 13.5c is a floor. He is the best person to get a feel of how much blue sky is in front of PYC. DYOR.
Even the BOTs has flipped into "buy mode" towards the Friday close. It has started to push the SP up from 13c to 13.5c 3 times at 3:18 pm. Then continually buying 1 share every minute, finally every 30 sec. until 4 pm. Looks like there is a change of sentiment in the pros camp.
PYC course of trades - Fri 19.02.2021 just before market close
PYC Price at posting:
14.0¢ Sentiment: Buy Disclosure: Held
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