$UAI This drop went from 0.4881 all the way down to 0.3513—a 24h -21% move. With a trading value of 52.8M, that’s not small for this market cap.
My view is a bit different from the mainstream—this looks more like a real distribution (true selling) than a rinse-and-repeat pullback. The typical features of a washout are a slow, low-volume grind down or a quick spike down followed by a pull back. But $UAI has been dropping from the highs with increasing volume; the bounce strength gets weaker each time. Every time it tries to get back above 0.4, it gets pressed down again. In this kind of structure, the bagholders are continuously rotating—i.e., the shares are being distributed.
Of course, someone might ask: if it’s already down this much, how much further can it go? The issue is that the low at 0.3513 hasn’t shown any clear volume-backed absorption, which suggests the real panic selling hasn’t run out yet. I personally won’t buy $UAI here; I’ll wait until it’s down to the point where nobody’s even discussing it anymore.
My view is a bit different from the mainstream—this looks more like a real distribution (true selling) than a rinse-and-repeat pullback. The typical features of a washout are a slow, low-volume grind down or a quick spike down followed by a pull back. But $UAI has been dropping from the highs with increasing volume; the bounce strength gets weaker each time. Every time it tries to get back above 0.4, it gets pressed down again. In this kind of structure, the bagholders are continuously rotating—i.e., the shares are being distributed.
Of course, someone might ask: if it’s already down this much, how much further can it go? The issue is that the low at 0.3513 hasn’t shown any clear volume-backed absorption, which suggests the real panic selling hasn’t run out yet. I personally won’t buy $UAI here; I’ll wait until it’s down to the point where nobody’s even discussing it anymore.