Only if a broker is feeding them info and even then only if someone has a conditional order placed with the broker, most traders will use a mental stop and just sell when a level is breached ... but larger players know where traders are likely to cut their losses so sometimes those levels are deliberately hit to trigger them. I don't think that's the case here though, there's just someone with a large position using any strength up here to sell into, which then caused a cascade of all those who bought the news being forced back out. Have to remember IPO holders are sitting on 10x and CR holders 1.5x, natural that some of them will take the money and run
So far there seems to be good support at 1.90, ideally it will bounce back and close high but it looks somewhat unlikely at this point. Maybe it needs news re sales to really get it going, i guess the quarterly at the end of the month will give some info on that
LTP Price at posting:
$1.92 Sentiment: None Disclosure: Held
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