coal announcement today, page-34

Focussing back on the coal announcement the other day, and what's happening with the trading this morning, the total market depth and the arrival of the 3m buy orders early this morning suggest ccc has bottomed and looking to return to higher levels. Early yet to say when but the early strength today suggests the charts are showing the past not the future and the outcome of the chart will be influenced by supply and demand for the shares. When a company does a share issue and there is short term selling to take a profit, the fundamentals and technical analysis of charts can go a bit hay wire.
TMD though, is still dominated by sell side with 4.4m to 10.2 but the bulk of the sell side is around the 8c levels so once again , the normal indications given by the TMD can be thrown out of whack.
Of course if a seller dumps 2m shares into the buy side, the chart is correct, but the reason I think the chart is not a good indicator for today is the buying orders in 1m slabs this morning.
4.7m volume already which is another indicator of a change in sentiment to the positive.
I could be wrong but that's what I'm reading from the data over the last couple of weeks and today's top level buy orders.
If the volume and value closes higher today than any other trading day for the month since the 1st of October, the focus on the coal announcement will be a positive for the market.