Very simple.
First, fair bit of shares have been bought recently around 10c, placing orders in the queue at 13c locks 30% profit if the SP moves.
Second, there is a group of shareholders who are bagholding but not willing to sell at current price, hoping to get out with a little smaller loss and happy to sell at 13c or thereabouts. Depending on how large is this group it can put a limit to any SP increases in the near future.
General comments/chat, page-33431
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Last
1.6¢ |
Change
-0.001(5.88%) |
Mkt cap ! $49.76M | |||
| Open | High | Low | Value | Volume |
| 1.6¢ | 1.7¢ | 1.6¢ | $35.44K | 2.173M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 20 | 3954705 | 1.6¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 1.7¢ | 2209314 | 6 |
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| ADN (ASX) Chart |