Who's selling? Yes, UBS be selling. They were the largest seller on Monday, Wednesday, Thursday and Friday last week. Retail capitulation seems to be well behind us now (occurred on the 23rd and 24th of June). The lower low on 13th of July had very little (miniscule) volume by comparison. It seems highly likely that the low is in, unless the S&P 500 has a crack at the 3,500 level (which is starting to look less likely).
UBS's efforts on Friday were a sight to behold. They were over 52% of total trade. So at these price levels (around $1) it's mostly just UBS buying and selling to themselves (and losing shares in the process) . Hopefully now they realise they can't squeeze any more shares out of the market (and they are just giving up their stack for no benefit), at which point I suspect they will jump to the other side and start pushing it back up again.
ALL IMO DYOR.
Who's selling?, page-7
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Last
12.0¢ |
Change
0.010(9.09%) |
Mkt cap ! $71.52M | |||
| Open | High | Low | Value | Volume |
| 11.5¢ | 12.0¢ | 11.0¢ | $266.6K | 2.301M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 25960 | 11.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 12.0¢ | 281582 | 5 |
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| Last trade - 16.10pm 27/09/2024 (20 minute delay) ? |
| GLN (ASX) Chart |