Alexium was mugged again yesterday , particularly in the...

Alexium was mugged again yesterday , particularly in the afternoon, and I have been trying to figure out what gives. I had another look at the extended  hourly this morning to see if anything stands out. The  chart is the same as last week and highlighted (arrows) starting at the open on Monday  24th April to the close last night May 1st.

Overall following the post announcement sell off on Wednesday the SP was recovering and right through including the open yesterday the outlook looked optimistic. I expected that there might be a pullback to test the 50 cent level, usually is in these circumstances, and it looked on track until about 13:00 when selling kicked in the middle of what was a lowish volume day to that point.

The selling intensity picked in the next couple of hours up as can be seen in the highlighted area of the volume. Could be an offload coupled with some short trader profit taking and or stop loss selling following the bounce from the 47.5 cent low on Thursday.

I noticed the presence of 35K sell  parcels yesterday and a couple more sitting on the sell queue already today. Could be signs of an offload under way which would be my best guess but might just be a coincidence. All things considered looking at the generally positive  price action on Thursday and Friday. what happened yesterday was quite a surprise even allowing for Mondayitis.

Hourly COB May 1st