Bigbraids
Nov 4, 11:39 PM
$REEMF upon looking at the 3 month chart I’m concluding this selling is to keep the flag structure. 3 months ago
$REEMF popped up to previous highs, it faded until the buyer stepped in at .76 a month later and drove it to 1.15 over the course of a week where the significant
$1 level drove increased liquidity, and finally last week they moved it just above .9 and are again forcing the fade. My belief is these lower highs with three flags captured into one larger flag is their method for washing out week hands and delivering a clear inflection point around .8 which they’ll use as a spring board to rocket the price. Saw something very similar with
$BNGO in 2020 where the professionals completed a sale of shelf shares creating a picture perfect bull flag that upon announcement shot the price from $.7 to
$7 (the rest of the run was just retail a home killing time).
Why all the trouble? To get their best price for a future share offering to pay for the full build out.
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