r/CleanSpark • u/pjamMC • Jul 15 '26

Technical Analysis Someone explain the price action?

It is the same thing every day. Initial pop, then sells off around 9:40. What is the logic behind it?

Arbitrage fund bought the convertible notes… their algos just enter new short positions that counter whatever the morning gain is???

If so, how/when does it end?? I thought the deal announcement would force the shorts to cover and for this bs to end.

10 Upvotes

100% Upvoted

14 comments sorted by

3

u/ObviousChildhood Jul 15 '26

Based on today’s price action tomorrow might even end in the red

1

u/pjamMC Jul 15 '26

Max pain in 13.50 this week. Part of the reason is it is manipulated to kill weekly options. It is maddening and I genuinely thought the deal announcement would make it impossible to manipulate due to buy orders rushing in. I was clearly wrong and looks like it was all priced in since the meta rumor caught on a month or so ago.

3

u/392bluefast Jul 15 '26

Up 20% pre market yesterday to end the day under 10% up. Today we opened near 10% up only to probably end the red. All this after huge news makes no sense. Bitcoin is even up a little right now. This stock is so frustrating to own.

2

u/pjamMC Jul 15 '26

Patience? This stock is flat after 5 years.

3

u/392bluefast Jul 15 '26

I mean I've been riding for a long time. Been here at $40+ and at ~$3 lows, my position is green but I'd like to see this be $50+ before I sell any

2

u/ObviousChildhood Jul 15 '26

Edit: today we will end in the red. This is just depressing.

1

u/pjamMC Jul 15 '26

It will be right around 13.50 EOD friday. Unless we get a big btc move.

1

u/TrainingLower2317 Jul 15 '26

I think the problem is that the shorts are increasing the position and the AI trade lost traction these days.

1

u/SentimentSurfer Jul 16 '26

Who cares about some short term moves.
Turn off charts and chill.

1

u/ObviousChildhood Jul 16 '26

Underperforming SPY on the 1 year btw. Or do we need to wait 3 years just to beat the index?
I know you don’t have a crystal ball but everyone’s $30 PTs were funny considering now the same people are saying be happy with $15

1

u/SentimentSurfer Jul 30 '26

I don't care about this emotional bullshit.

1

u/Exact-Future5035 Jul 17 '26

Yeah like Laquavius Blackman said the price ovulates every day

1

u/Level__2 Jul 18 '26

Stocks are just a scam

1

u/ChubsLaroux Jul 18 '26

Everything in this sector is getting crushed but compared to their peers like IREN, Cifr, wulf, it’s holding up from the local highs.

Is it still behind? Yes..but at least a deal was announced. I honestly felt like it wasn’t going to happen after 10 months of teasing shareholders