big bounce today , page-3

accumulation to be sure to be sure.
the NTA is way above the current share price and with Stockland buying in, they would only pay about half what they think it's worth. The price rises are not unexpected given the excellent assets. Volumes still only just above 1m shares but the story can be seen going through the prevous posts as the large buyer was coming in on the pre close to pick up large chunks but the small sell volumes weren't on offer so they have changed there accumulation strategy.
With 950k buy side and 306 k sell side there still isn't much for sale. Hasn't been since the Stockland buy in when it was trading in the $1.20 to $1.50 levels not long ago.
A classic over sold stock based on market sentiment but as we know, that's changing across many stocks that have been over sold and the market regains it's appetite.
I'd reasonably expect a trading range of 60 to 70c in the short term.
Has been a couple of good days but there will be plenty of them to follow.
Plenty of ups and downs to come but check the previous posts and FKP look pretty good value under what Stockland paid. As the market sentiment picks up, there will be plenty of stocks like MGR,SDG,FKP and MAH that can go higher pretty quickly. Not blue chip but neither is the "buy in" price and the potential trading gains.