RE:RE:Give the CEO a raise! As often the case, I share a different perspective.
1) 2019, 2020, 2021 the yearly low came in March/April - with a significant jump in SP shortly following, seems to be right on time. In NO WAY am I saying that as positive or bullish just pointing out the pattern over the last 4 years.
2) More substantially to consider, I see this as a Wyckoff Distribution Pattern
https://www.tradingview.com/chart/WUUj2KCh/?symbol=TSXV%3AAGG
https://globalhaloblog.wordpress.com/2018/06/22/the-ultimate-guide-to-wyckoff-trading/ I believe we are in Phase C, which is then followed by Phase D “the mark up”
Phase C is where the Composite Man checks if an asset is ready to move up by testing the remaining supply. There are two main events:
- Spring (shakeout) – a drop in the price which takes it below the lows of trading range (below STs (.115) or even selling climax (.11), depending on how deep it was). It’s usually the last attempt to acquire shares at cheap prices before the mark-up move. Creating selling pressure forces retail traders to think that the current trading range will end in the mark-down movement and exit or reverse their positions. The Composite Man waits for breakout to create enough liquidity and then rapidly covers all available supply resulting in price getting back into trading range.
- Tests – A small retracement to check if there is enough support at the bottom of the trading range after a shakeout. The Composite Man stops his buying pressure and checks if the market has enough demand to not let price fall below the trading range. If so, the market is ready for the mark-up move. If not – the Composite Man continues his accumulation of available supply.
3) Lastly, 30 million Warrants expire at the end of the Wedge Pattern Apex (August 2022). What is interesting is these Warrants were the last Private Placements that involved F & M. Once these officially expire all F & M legacy influence has passed. It’s possible the Composite Man does not want this mark up to occur until these Warrants have expired. This will drop issues Warrants in half.