Watching the daily tape, you can clearly see there is a major battle between longs and shorts. It appears that the shorts are attempting to frustrate bulls to give up their positions. VRNG sits just below a 1 month downtrend line, which it has hit a number of times and is a real point of defense by the shorts. The stock has support at the 50 and 100 dma. A close over $3.85 almost insures that $4 will be tested.
Bears have used $4 as a long standing defense line for the last five months. In the chart below, you can see any penetration of $4 brings with it a quick downward response to close the stock beneath it.
It is quite apparent the stock has likely attracted predatory short trading funds. They have done very well over the last several months where it the price spikes and then loses roughly $1.50 in value in the subsequent couple of weeks until support comes in. The best thing is for VRNG to slowly move higher, close and hold $4.00. This will signal to the shorts that the gravy train that has served them so well is weakening substantially. There are likely several short funds playing this stock.
Looking at the executed trades, there is much playing around as the lot sizes are 100 - 400 shares each. It takes an incredible number of trades like this to build millions of shares of daily volume trade. Stock price manipulators both bull and bear love to use small lots to pait the tape. Add HFT long or short programs to the mix, and thousands of trades of tiny size are executed to scalp a penny here or there and to dampen or increase enthusiasm for those investing in the stock.
Tomorrow's trade looks like it will be the deciding factor of if VRNG breaks out to test $4 or weakens to test support at $3.20. This is short term noise at this point but the real significance from a technical standpoint is closing over and holding $4 for about a week.
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John Murphy, one of my all time favorites. Not in agreement with all your suppositions though, for instance, not a battle between longs and shorts, a daily battle of money fund shorting and covering everyday for price control, and other items in your post.