Looking at the volume going through I would suggest that the action is due to the SP being very undervalued and oversold of the past few months.
We need to remember that institutions bought into the stock at $1.30 and since then there have been some big announcements. At this price it is worthy of the accumulation that we are seeing today. I would not be surprised if an institution has some insight the guidance we are expecting later this month.
The Afterpay deal has shifted the sentiment within the sector but added to this is that SPT technology is a great candidate for an acquisition given the nature of the technology. It is exactly what we needed to turn the SP back north. I'm expecting to see it going on a bit of a run here.
Watch this space.
- Forums
- ASX - By Stock
- SPT
- Watch This Space
Watch This Space, page-5389
-
-
- There are more pages in this discussion • 2,646 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
LU7
Discover the strong preliminary feasibility of the Bécancour Lithium Refinery, showcasing resilience in a low pricing environment and a strategic plan to capitalize on future price recoveries