buy gives a buy signal..., page-13

re: expect a quick bounce... Classic trading activity.

The current sell-off, started by yesterday's profit takers, lost momentum very quickly today...as evidenced by the relatively low volumes traded.

Most of the buyers suddenly vanished from the depth today, apparently in an attempt to drive down the price...and it initially appeared to be working, as a few got flushed out. There were also a few well timed sales during the day, in order to cap any buying intertest that began to show up now and then.

It might be an early call but, as I see it, the sell-off appears to have finished for now.

Importantly however, the gap down to 18.5c has been filled...and judging by the lack of serious selling below this level, it suggests to me that we should find support around here over the next day or two. If so, I would expect it to provide a strong base from which we should see another assault at 20.5c shortly.

If however, we finally get the announcement regarding Nyuni-1...all bets are off!

Hard to know the real reason for the sudden interest. It could be speculators having a punt, or it could be insiders getting set...who knows?

What I do know, is some fairly serious buying has taken place in recent days, with some individual orders substantially higher than the average total daily traded volume for this stock over recent weeks...not the sort of thing you do if you are just having a punt!

I guess time will tell.

Cheers!