EXR Trading 2021, page-164

It has been a great start to the new year trading wise and another excellent day.

Big volume again today, and all week, and as was being discussed on the trading thread the presence of professional market participants and their Automatic Trading Systems was very evident today. As I said on that thread, not really sure what their aim was, presumably accumulation, but their effectiveness is questionably is such a bull market.

All up about 7.5 million shares traded today with a total value of $1.183 million and a closing price of 16.5c although we did touch 17c at several points in time. The closing auction again demonstrated the strength of the demand.

The VWAP today was 15.8c, which is extraordinary considering the VWAP for Monday was 13.7c and the VWAP for Tuesday was 14.3c.

I think we're seeing such strong price growth leading into the booking of the contingent resource, but I suspect there have been quite a few buyers on the sidelines waiting to see where the price was going to bottom out before they entered. I think most have realised the price is heading to the north east at the moment (actually more like NNNE) and are thus making their entry. You can see how quickly the buying line is re-filling as the price heads up a pip. Remember, yesterday the price closed at 14.5c but we have significant amount of buyers at the price and higher waiting to buy in.

I know a lot of the regular commentators on here have held out as the price has risen and dropped, and days like today (weeks like this week) show why that was a sound idea. There was never any fundamental reason for the falls, but there are fundamental reasons for the rise.

Still one of the best risk/reward options on the ASX in my humble opinion.