I have noticed that the SP rises by about 4c to 6c immediately after a good news story, only to be dragged back by a sudden flood of stock which spooks buyers. Any momentum is short lived. Why? IMHO, shorters aren't the only problem. BPT needs a larger volume of buyers to break the shorters' stranglehold and maintain momentum. Well d'uh you say. The real problem is that institutional investors make up 78% of the usual buyers. Unfotunately most of these people aren't buying at the moment because they follow rules - they must tick every box that they have been taught or told to follow. One of them is: no matter how cheap you think the stock you must not buy until it is in a strong upward trend. No institutional investor will invest in BPT until this occurs - they like their jobs too much. Particularly after the bollocking they've had recently. So BPT is trying to perform a rally with roughly a 25% buyer participation. It is my opinion that when market confidence returns, you'll see the rally you want. Institutional investors have been accumulating a bucket full of money after all.
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$1.27 |
Change
0.015(1.20%) |
Mkt cap ! $2.897B |
Open | High | Low | Value | Volume |
$1.29 | $1.30 | $1.26 | $9.725M | 7.622M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
6 | 135823 | $1.27 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$1.28 | 50000 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 61857 | 1.270 |
6 | 21703 | 1.265 |
11 | 76040 | 1.260 |
7 | 56695 | 1.255 |
3 | 37681 | 1.250 |
Price($) | Vol. | No. |
---|---|---|
1.275 | 20000 | 1 |
1.280 | 77180 | 5 |
1.285 | 3256 | 1 |
1.290 | 43177 | 2 |
1.295 | 67681 | 4 |
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