OK, this is how I see it :-
If there was any inside information and the result of the drilling was known, the price would've headed in a more southerly direction with panic selling. The volume does not indicate any inside info. and those clever traders shook the tree and a few fell out.
It would seem to me that, if the company stated that it will announce something today or tomorrow, speculators will want to be in KAR by the end of trade today incase we get announcement first thing tomorrow or tonight. IMO, if that happens, we will see a run upwards towards close.
Also, if it was targeted by short sellers, they will have to buy back before close incase it bolts tomorrow.
These are just possiblities I thought I'd share with everyone.
Any other thoughts? Plesae share. Thanks.
why the price drop???, page-24
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Last
$1.87 |
Change
-0.050(2.60%) |
Mkt cap ! $1.527B | |||
| Open | High | Low | Value | Volume |
| $1.90 | $1.91 | $1.87 | $3.689M | 1.950M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 23 | 41608 | $1.87 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.88 | 99820 | 71 |
View Market Depth
| Last trade - 12.36pm 15/07/2024 (20 minute delay) ? |
| KAR (ASX) Chart |