Ange08: I don't agree that it was a rally and pump......price and volume tell a different story....
Around midday the price broke above resistance at 3c. However, it was quickly capped on the ask ...I suspect to avoid a speeding ticket.... .
Traders who bought the break would have been nervous about a pump and dump. However, the price was well supported at 2.9, also the 50% retrace......a popular entry point..... and into the close it moved up...On strong volume ...this is demand....
Professionals buy at the close.....They would have been watching to see if support held and how the orders were placed after the close.....Watching the after market auction it was easy to see.......that they were taking positions...
The price gapped above the high of 3.1 after the close.....on very high volume.....
Upwards manipulation is always accompanied by low volume....
I would say a gap up on open tomorrow on the back of an announcement is very likely.....
SSN Price at posting:
3.2¢ Sentiment: Hold Disclosure: Held
