There has been some supply issues recently no doubt. Today, on...

There has been some supply issues recently no doubt.

Today, on increased volume, price closed within the range of the previous bar, and did not threaten to make a new low.

So there was enough demand in the market (today), to absorb the supply coming in.

In fact, the demand seemed happy enough to buy from the sellers at 3cps, even though it has traded lower recently.

So while those it will need confirmation over the coming days, I see the trading today as potentially positive...........as enough demand was in the market to absorb the supply.

And so long as supply doesn't increase to the point where demand is overwhelmed (again), I see both last week, and this week (so far) as some form of tentative potential strength developing.
(mind you, if the supply does become overwhelming again, I expect the recent buying maybe dumped - causing another price breakdown. but that is the usual risks in trading microcaps)

does that make sense ??

cheers