why have technicals stalled

Over the last few months a steady stream of oppies have been exercized in blocks of several million at a time. The stock has maintained a steady uptrend hitting 5.0-5.2 with a substantial number of bids in this area, over the last few days the large bids have evaporated as the sellers have become more aggressive. Another poster commented a little while back that the oppies being exercized may be hitting the market and i think that this selling volume may have stalled the price.

I was a little suprised about this because the number of oppies being exercized was not that great (tens of thousands of dollars) and currently not adding much to the kitty as RCH needs plenty of bucks (millions) to start drilling. Other commentary on this site talks of big buyers/investors coming into the stock BUT there have been no ASX filings this year of new investors coming into this project. Technicals have started to detriorate as well. I held a substantial oppies position and sold out over the course of the past two weeks as the market in the oppies tends to be thin (where are all of the buyers waiting to get in?). I like the story but this is not being backed up by volumes in the RCH shares. They might need to do a placement to raise the funds to drill? AND i suspect that the folks on the sidelines want to see the result of this drilling before they get in. I wish all longs good luck and will look for a retracement to re-enter.