UNI bulls are still adding to their position and holding the order, yet the price has crashed from the high point by nearly half a percent. The harder this position is piled up, the more it looks like they’re raising the exit fund’s sedan chair. Both the 20-day and 50-day moving averages are pressed right on top of the head; even on rebounds they can’t even touch the moving averages. So what makes this qualify as a “repair”? The sell orders in the order book are still pressing down on the buy orders—whoever takes the deal from this spot is basically handing a seat to the smart money as it exits.
