In my experience, this type of pattern emerges either when there is a major shareholder selling gradually or bots programmed to achieve a pre-determined target gradually. This is not a regular shareholder activity.
This strategy is usually effective to instil fear and make the nervous nellies sell their shares.
While it doesn't really matter for the long-term holder, I would enjoy it more if the directors were updating the market more often.
TA Perspective, page-2
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