It's a normal technical action. Punters buy, then double down,...

It's a normal technical action. Punters buy, then double down, hope, worry, panic and then capitulate. Stocks move higher only after this happens.

If you watch other stocks or any financial instrument you'll see this. 

Experienced traders see this as a positive. It shakes out weak holders and there by reducing the resistance on the way up.

You will be able to see this reflect in the broker data. Retails often buy lower and sell at the bottom. You'll often hear people saying, "stocks always moves higher just after I hit the sell button". 

https://www.investopedia.com/terms/c/capitulation.asp

Hope that helps.