It doesn't matter what you try, there is no way to beat the automated trading systems used by brokers in the closing auctions.
Every time the buy side slid back to a closing price of 5.2c, the sell side adjusted just enough to drop it to 5.1c.
Now if the selling was genuine, you would be doing the opposite - trying to get the extra pip higher, but it is the sell side that adjusts to keep the price lower.
I reckon 3 shares, worth about 15c was all it took difference in the end to drop the sp nearly 4%.
Why??? - I guess they understand psychology and the current use of T/A, especially stop losses, to drive share prices lower and lower. And obviously it is working.
The rebound can be amazing - check SEA today. No change in anything material to the market, but a huge rebound off a rediculously low level - lets hope CCC follow.
CCC Price at posting:
51.0¢ Sentiment: ST Buy Disclosure: Held
