Yes I had the same problem Viva. Thought for a while that Bosco may have sold that guy some OGX shares, but that's just silly isn't it. Searched some more and found the Market Manipulator guru Mark Chapman talking about manipulators taking out stops prior to driving a share price up. Not sure whether that's what's happening here. Looks more like Retail investors just getting scared or bored. The volume traded is just too low.
I've uploaded my latest chart for OGX (see below). If you look at the chart you can see what are the critical price levels. All based on the climatic action (professional/smart money buying) that occurred on 18/04 (about $2.5M worth of stock bought!). Anybody with a hard stop above 6.3c is vulnerable to the type of manipulation describe by Chapman. I only have a soft stop in place. I won't divulge what it is as every time I mention my trade levels they seem to be hit the very next day. It does start with a 6 though. If you look at the chart you can see that the SP is now venturing into the high volume buying area, the stochastic is well and truly oversold and I am hoping wants to turn back up again. I hope the news that is about to be released is good, otherwise the professionals may get another chance to gobble up more OGX stock at lower levels.
OGX Price at posting:
7.7¢ Sentiment: Hold Disclosure: Held
