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Koala1959

1,653 Posts.

1294

14/04/23

15:51

Post #: 67280768
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Originally posted by 2ic: ↑

Iack of any sub notices has me in agreement this buying isn't making sense just for a blocking stake, TO failure and risk ESS is left swinging. Was just contemplating the 10min chart and thinking the buying in volume has been fits and starts, even though there was a lot of small lot bot action earlier int he week.

That first jump to 50c 10am Tues 11th was the start of what looks like sporadic bursts of buying in volume more than disciplined accumualtion. Also doesn;t make sense to leave the run so late for a blocking stake that you have to chase the market up this high/fast. It looks more like how leaks are transmitted, in fits and starts as word gets around another bid or revised offer is coming. No one player making an ongoing pig of themselves and risking ASIC looking too close, just a number of players with confidence their info is solid and money to be made.

Volumes dropping off over the day, where yesterday it was rising, maybe telling us 57.5c is too close to a higher offer to chase? That jump from 55 to 57 earlier also looked out of place and driven by a single buyer's desire to get set in a hurry, maybe telling us the news drops this avo? Now 58s going through, so maybe 60c is the magic number? Big difference between Tianqi higher best and final offer vs new bidder and the chance of a bidding war... fingers crossed for everyone, especially those who bought 50's or higher way back when.

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I contributed to the 57.5 / 58 sell volume today - a defensive sell to lock in profit.

I still have a reasonable holding and an certainly not discounting 60c or above might eventuate - I still have about 35% of my previous holding to benefit from any appreciation next week.

I would not be a buyer at the moment - I hope anyone who bought my shares today will be rewarded for the risk they have accepted.

ESS Price at posting: 57.8¢ Sentiment: Hold Disclosure: Held
7 Upvote

0 Great analysis

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General Discussion, page-2041

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