Something just doesn't smell right here.
Volume is dissipating, but failure to rally significantly on any institutional buying despite a strong day on the market seems to indicate there is something they are not telling the retail side of the market.
I am starting to suspect they have rung around to see if the banks/major S/H will support a cap raising but are keeping the retail market in the dark until the price has been negotiated.
But ASIC has asked that non-disclosure agreements are signed and adhered to in such a case, so surely this cannot be?
If my suspicions are right, it will be a double whammy for the retail side, as they will likely do an accelerated placement to instos who will likely initiate a 2nd round of quick profit dumping.
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$5.47 |
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Open | High | Low | Value | Volume |
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39 | 7264 | 5.460 |
15 | 16291 | 5.450 |
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9 | 7883 | 5.430 |
Price($) | Vol. | No. |
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5.480 | 5619 | 23 |
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