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$PAYS after hitting New 78 Day High of $7.18 last Feb. 7, 2019 reached a high of $18.67. A gain of 162% in 162 days. Last Nov.6, 2019 it released an impressive 10Q-Quarterly Report with a high of $11.98. This was a drop of course of around -55.84% in 110 days and the drop still continued to a low of $8.57. Why this drop when its Revenue is 9M vs 6.4M; Its Income is 2.4M vs 800K and its End Cash is 41.2M vs 21.7M of previous year on same quarter? Is this natural? Yes. When stock rises significantly, big institutions will not chase for the high price but will look forward for the possible pullback to its previous significant low to put an entry. Market Maker will then try to shake the tree scaring small time traders and investors to relinquish their shares (see breakdown of 20 & 50 MA against 200MA). This move would make Market Maker to get more shares and offer them to hungry big institutions at lower price. See how $MOMO is played after the drop, on Accelotrade https://www.accelotrade.com/moi/?gameID=G_83538341275157058
PAYS
MOMO
Please pay attention to the similarity of the chart pattern.MOMO can give you an idea how PAYS might probably play out.
Have a good one.
Cheers,
Jerome
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