I tend to agree with BusyBee's post on 1/25/19. A
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Posted On: 01/31/2019 1:24:21 PM
I tend to agree with BusyBee's post on 1/25/19. A wall was put up to prevent GNBT from going over $3.10.
Post by BusyBee
Did no one else see the WALL that was put up at the end of the day to block any advance beyond $3.10? At one point I saw 35,000 shares for sale at $3.10 appear out of nowhere when the buying pressure seemed ready to break through that resistance point. That was too much for this tiny stock and the market makers backed down and moved the ask down to $3.08. Shortly after that, every limit sell order all the way down to $2.65 got taken out.
I'm just trying to make sense of it. It's clearly not normal trading as G4 has pointed out, but is this someone sitting on a huge amount of shares and trying to turn them into cash or is this deep pockets keeping the price down while they accumulate GNBT on the cheap?
I reject the notion that this is normal retail trading.
Post by BusyBee
Did no one else see the WALL that was put up at the end of the day to block any advance beyond $3.10? At one point I saw 35,000 shares for sale at $3.10 appear out of nowhere when the buying pressure seemed ready to break through that resistance point. That was too much for this tiny stock and the market makers backed down and moved the ask down to $3.08. Shortly after that, every limit sell order all the way down to $2.65 got taken out.
I'm just trying to make sense of it. It's clearly not normal trading as G4 has pointed out, but is this someone sitting on a huge amount of shares and trying to turn them into cash or is this deep pockets keeping the price down while they accumulate GNBT on the cheap?
I reject the notion that this is normal retail trading.
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