Apr. 22 at 9:44 AM
$BIRD The post-rally pullback may not be an end to the rally, but an interlude before the start of its next phase. It has one of the most prominent pivots in the market announced so far this year, with a substantiated roadmap already being executed, and support from an institutional investor.
Meanwhile, the pullback's volume is only a fraction of the rally's, and most of these sales appear to involve shorts (the daily off-exchange short-sale volume ratios have been around 57%-60% since the surge). When compared to the float and excluding the effect of short sales as well as repeated trades, including those of algos and MMs, the number of genuine exits may be just a fraction of float, suggesting a strong holder base, constituted by shareholders who likely have confidence in the substance of the pivot, and its potential. New demand, either from shorts covering or bargain hunters, with or without new news, may trigger the next run. (not advice, just observations and probabilities)
