From the price action, could be a fund buying back their shorts, one of the algo funds. It's quite common for them to reduce shorts into a significant news event when the date is known (IND 30 July). They don't know the outcome either, but their risk management parameters would have them on reduce at present. I used to work in the industry so I know a little bit about how they work.
They need volume too, so on a day like today when probably some nervous nelly's, they sop up the liquidity.
Just my opinion, but good to see the SP hanging in there.
DYOR & GLTAH
Chart, page-2052
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Last
24.5¢ |
Change
-0.010(3.92%) |
Mkt cap ! $85.70M | |||
| Open | High | Low | Value | Volume |
| 24.5¢ | 25.0¢ | 24.0¢ | $59.66K | 241.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 78837 | 24.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 25.0¢ | 36290 | 1 |
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| Last trade - 16.10pm 30/08/2024 (20 minute delay) ? |
| PAR (ASX) Chart |