My guess is trying to shake out weak holders. If you're a major institution trying to accumulate a large %, then selling a few back into the market after a big run is a good idea to shake out some weak holders. Those that want to try and protect the large recent gains may panic and exit their holding at a decent profit rather than risk further weakness.
I'm actually surprised we didn't see this continue a bit today before the likes of Global X start to accumulate again (assuming they're after more stock) but manage a lower VWAP than they may have otherwise if this weakness didn't occur.
Anyway, investors won't mind the pull-back if focussed on the mid to longer term value here. That includes me
Yesterdays Trading, page-4
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Last
$4.69 |
Change
0.100(2.18%) |
Mkt cap ! $1.110B | |||
| Open | High | Low | Value | Volume |
| $4.60 | $4.69 | $4.53 | $7.073M | 1.514M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 24317 | $4.69 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $4.70 | 2677 | 2 |
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| Last trade - 16.10pm 31/07/2024 (20 minute delay) ? |
| SLX (ASX) Chart |