What I was getting at with the float I've noticed in other stocks as well that for legs to be made a certain amount of shares need to change hands. We can all understand why. Having an idea of the approximate float is quite handy. But we also need a reasonable sampling to get a sense of anything.
So for rough guestimates rounding off numbers, at 70% shares available from the 89M listed on the TSXV makes for 27M tradeable float. Allowing an extra 3M for insiders to play around with makes 30M of shares deemed to be in real circulation.
The question then becomes How many shares need to exchange hands to get to the next level of support?
After months and months of accumulation EKG woke up from nothing on Jan 18 to over 16.5 Million exchanging in 2 trading days causing it to go from .04 to say .16.
The 2 days following took almost 41M to go from .16 to .59 but essentially giving to 2 days closures in the low .40's.
Another 11 days with over 45M shares exchanging basically consolidated the price in the .38 area. By then, support in the .20 was totally eclipsed by the run. 85M shares traded which would account for excessive day trading to move it from .20's to .30 and 30's to 40.
Over the next 7 trading days, over 34M shares exchanged officially leaving the .30's behind.
Since then, we've only traded 6 days with about 8M shares over the .47 range.
In looking over this with a small hand big map approach, I'm inclined to conclude it takes about 30-35M shares exchanging to reach a new support level.
So we're probably 25M shares shy of leaving the high .47 low .52 level.
Only significant advancements will generate that fast. Otherwise, it will be a slow crawl to the end of March.
jmo