If you are bullish on LINE, this move is what you have been waiting for. The charts, volume and price action all look bullish. Making me feel like good news is coming soon.
Sentiment: Strong Buy
Disclosure: I am (very) long and holding LINE.
To answer your question directly, the market is nervous about LINE because usually companies that are in the midst of a transaction and make comments about said transaction always add language about how they are committed to seeing the transaction go through. We have not seen that language and the absence of it makes people including myself slightly nervous.
Either way I think the best thing for the company and the stock is to get a resolution on it soon.
LINE went up for no particular reason and it's going down for no particular reason. Lesson to be learned: Take profit when it's there , sell on a top not a bottom .I closed my Puts and starting the weekend.