Daily. We are in a daily downtrend and have been since August 6. And since August 15, it's been without a bounce over the previous day's high. That shows distribution at a steady rate.
I am looking for a reversal. Yesterday we made a doji and we need a green candle to close above yesterday's high for a reversal here.
Just gets back to the old adage of "the trend is your friend" and shorts are more attracted to this trend than longs. If it reverses today, there will be short covering (and not just from yesterday's shorts, but the total short float).
If it doesn't reverse, they stay comfy and longs stay wary. (Although if I didn't own this stock already, I would certainly buy-in at this level because insiders have purchased at higher prices than the current pps.)