On the bull side, looking at the chart I can see that buyers drying up (lack of buying volume). The stock has lost momentum as shown by the RSI in the 40s. This is also evident in volume shown on the tables below. Although the longer timespan still presents an upward linear regression trend, a turn towards a downtrend is evident from the 52W high of 5.38 around Jan 9, and further reinforced when the support line was broken around the time of the announcement of the delay in the trial results. With the exception of a @kenjikool spike TM this downtrend has resumed and as yet bulls haven't yet started to shift it again with renewed buying pressure.
As you mention, there doesn't seem to be anything that suggests that technically this won't continue. Although this may be true, it excludes the prospect of something such as news shifting sentiment, a concept that you disallow because this is a technical thread. In other words: it's not in the chart so don't talk about it. However I think it is in part reflected in the chart on the bear side of the argument.
On the bear side sellers are drying up (low sell volume, diminished ATR). High conviction holders aren't buying, but they're not selling either. Low volumes are in play. Also drops in SP seem to be triggered by very small sales with occasional capitulations. Bears are winning in small increments. What does this suggest to you? Why would someone want to drive the price down using small increments. It doesn't appear that the stock is being shorted.(https://www.shortman.com.au/stock?q=purifloh) Although this argument gets presented alot, you can read it in the price-work. It would seem that when the order book is thin, the SP is pushed down, with the aim of buying more. In other words the volumes in the chart, the incremental downward pressure, suggests that someone wants more at a cheaper price.
A while ago someone posted some broker data and for the life of me I can't find it. But I recall looking at one particular broker and looking into them: their speciality is algorithmic trading and they're trading this stock. I know many people have a gripe against the bots but I don't so much and see they have a role in providing market liquidity and market maker activities. They aren't as set and forget as it may appear. But anyway, my point is that the slow drive may show a broker's intent to buy more. Ironically, the slow drive down is evidence of demand for more.
Currently the chart may not show a reversal on it's own, as the thing that will likely change the trend is not technical, but concerns an announcement revealing a fundamental shift. It may not be currently self-evident, but ultimately it will be written in the chart, and I welcome you aboard.
I (think I) understand your viewpoint, but I don't think it would hurt you to look at the broader context.
(20min delay)