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HOLO Selloff from Dilution News Continues

HOLO experienced a nice rally last week, but there was dilution news announced on Friday that really hurt the strong rally. There was a selloff on Friday and we are seeing a continued selloff today. I think we saw something similar with GME and AMC where both stocks rallied, and then the Board members took the rally as an opportunity to raise money by issuing convertible notes. Right now my two key levels for HOLO are the support zone between $0.41 – $0.43 and the $0.77 resistance level. I would give HOLO some time to rebound after the recent rejection at $0.76 and selloff from dilution news. HOLO’s August monthly candle is now green, and the seasonality trend is getting weak over the next few weeks. I would be careful on the week of Sept. 9, HOLO has a 33% bullish rate with a 40% decline on average.

HOLO Short Volume Skyrockets to $238 Million

HOLO short volume has significantly increased to $238 million. We can visually see that this is a very large increase in short volume, and much higher than the short interest in the past. Either shorts got wrecked by the recent rally and are trying to continue to short the stock, or insiders are shorting again after the recent dilution news.

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