Another opinionSomething i find to be rather curious about this play. If you have been participating or watching this one over the last couple months you will notice a very reliable pattern has developed thus far. How it unfolds from here is anyone's guess, but based on the past trading history, you will notice that there is a very orderly and organized attempt to cap the share price or hold it in place. Not implying a conspiracy or anything in particular but simply the pattern that has been very beneficial to those of us who decided to take make it work for us. Generally any selling pressure has been done via one brokerage at a time (One seller can go through a variety of brokerages) in varying but relatively large chunks into the bid. It is methodical and you have been able to count on it for months now. Once whatever has been accomplished is completed then you see the buying is back on the ask and very sporadic as you would expect. The price then begins to creep back up as the only way to buy any quantity is to hit the ask. Again after the price gets back up to a certain level the selling pressure begins again via another brokerage.
Ask yourself why someone with a lot of shares would only sell in volume at the lowest prices possible, but not when the stock is higher on the ask? Either they are morons purposely trying to make less money, or are attempting to give an impression the stock price is fragile in my opinion. If the latter then it would encourage weak hands to be more driven to sell on news or any chance to get out with minimal damage or gains to be safe. That would allow a buyer to gain far more shares than they normally could at a lower overall cost. All speculation on my part but it has been very rewarding to follow this pattern and act accordingly. Hope others are as well.
If you were to patiently place a bid at a lower price and wait you could get filled by this reliable tactic. Also, it happens right up to news being released and driven down before hand. After the news the stock moves up again only to be taken back down during the lulls. You can buy and sell this stock according to this effort while holding a longer term core position and greatly reduce your exposure if patient. But, if at some point the news is big enough the stock may not retreat, that is why holding that core position is so important, just in case we get the blockbuster news. This trading pattern and very obvious effort has me inclined to think we should see another nice move, but again simply "Theory" on my part. lol. But so far this theory has been very beneficial.