EVO could hit $3-$4 in the future, page-98

Ok I'll give you my quick read of the action. There are always a number of forces at play in the markets, so you are probably asking too much if you seek a simple answer that explains everything.

So, you can see clearly on the chart (below) there was a large rise of volume on Oct 8 which has continued in the days after, as that was accompanied by a generally rising stock price you can probably feel safe in calling that a rise in buying volume in comparison to selling volume (although likely both have risen). That started on October 8, the day that acquisition of the Australian centres was announced. So, it is safe to conclude a lot of the spike in interest relates to that announcement or something related to it.

As for the P&D element, we will have to wait and see. There is no doubt it got the attention of daytraders on the 22nd & 23rd and it overshot where it would have gone to without them. Above all else, daytraders bring volatility and liquidity. Ultimately it had to come back as the move higher could not be sustained, and you can see very little was traded above 17.5c. In a typical P&D, you'd probably expect more volume around the top where there's a crescendo of buying & selling, with EVO it more just run out of puff as not enough people wanted to be buying up there. I'd say it's more a case of some retail traders got ahead of themselves and got the door slammed in their face rather abruptly, as is often the case.



I would like to see 15.5c hold otherwise it may well have run out of gas short-term and could drift back towards it's old trading range. But I remain hopeful that the positive trend continues in the medium term (even if it isn't going "straight to the moon"). With the like of Chris Scott & Chris Sacre that have come aboard it does give some more confidence that they can turn things around and they seem to be taking the right steps so far. Aside from that you have the further expected centre acquisitions, and I'm sure there will be great interest in the half-yearly report due in late Nov, which hopefully shows some positive signs.

All in my humble opinion of course.