We needed some weak hands to shake out, and anyone who couldn’t hold above 11p has now been flushed lower. Today’s action showed a healthy swing — volume sold into the move up to ~11.4p, followed by smaller sell orders and clear signs of smarter money stepping in.
Market makers appear to be probing levels here, likely engineering a shake-out to free up stock. With heavy buying previously seen to 12.4 and 11.4p today and the subsequent pullback, the order book still looks imbalanced. A well-set bear trap now seems to be in place going forward.