It could be a few things that causes this buying surge:
1. Bigger players waiting for all bad news and risks to be mostly out on open about PEP and saw two good news announcements so they are thinking time to get in on a Friday arvo.
2. Bigger players know that when a company heading into a drilling program is going to start publishing results which are usually easy to see positives over a period of time and pushes prices up over that period.
3. A leak of bigger news in relation to finance/offtake.
4. Recommended from and an Analyst to start buying (email out to their group of investors late Friday causing surge)
I am sure there was a few fomo buys the in there as well, but could not be main drivers as that was some decent volume all of a sudden.
I am thinking a combination of 1. And 2.
DYOR and this is not financial advice etc.
Chart, page-35
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Last
41.0¢ |
Change
-0.005(1.20%) |
Mkt cap ! $36.99M | |||
| Open | High | Low | Value | Volume |
| 42.0¢ | 42.0¢ | 39.5¢ | $16.51K | 40.65K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 728 | 40.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 42.0¢ | 13505 | 1 |
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| Last trade - 16.10pm 01/10/2024 (20 minute delay) ? |
| SRL (ASX) Chart |