Recent trading pattern

Interesting trading pattern recently. At the sell side, mainly small investors, sitting on more than decent paper profits in an extremely volatile stock, watching the chart and sensing some sort of resistance level at 2.44, the intraday high level set by pure coincidence on june 6th.


At the buy side. Some larger investors, desperate to raise the stakes. They can’t buy large at market, or the share price will be at 4 dollars in a heartbeat. But they are in a hurry. They place some larger sell orders, scaring investors who look at the order book. By the opening bell some sell orders trickle down and the buyers sit tight and collect some shares. Towards the end of the trading day they get nervous and start to take out offers. The stock closes at or near the day’s high and the volume is far above average. How Does This End?