My gut is saying no, as the volume has been above-

My gut is saying no, as the volume has been above-average but PPS is pretty much sitting tight. To me that implies that folks are accumulating and keeping pace with the selling.

I would assume that a large group of investors would be on the same page as the folks represented by CDEL, rather than having an opposing disposition; and as such the price action would be heading somewhere (be it up or down).

Just my opinion though.