some extremely positive price action on SSM today, not only was the stock up 13.8% but there was some clear signs that sellers were starting to dry up, at days end there was only 580,000 left on the sell side down from 2 million at the start of the day, on the buy side it had grown from 1.6 million to 3.7 million by the end of the day.
with an ex-dividend date of the 20th of march, a price target of between 40-45c is not unrealistic based solely on the fully franked dividend yield, but if the available shares continue to dwindle it maybe possible to overshoot to the upside.
shorter term it will be interesting to see if it can break and hold the 35c level in the coming days.
one thing that can't be disputed is that smaller companies with significant dividend yields continue to outperform the overall market.
SSM Price at posting:
30.1¢ Sentiment: None Disclosure: Not Held
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