For me, as I have been saying including yesterday, 15.5 was the key. Once it didn't look like holding in the morning, I wasn't sure of where the next support is and had to let go some of my shares. At this stage I have no clue except that I can see weakness. A good announcement could change that, but very dicey at this stage.
So not sure what the strong selling was about, but very determined sellers. Volume not very high but still decent. Its possible someone wanted to exit and they had a big holding. Lets see what's in store tomorrow. For those with courage and conviction, there could be some easy pickings to be done. For me, I want to first see where it settles and when the uptrend returns. As I have said its not possible to go against the market and one has to respect that - whatever one thinks.
Usually after a 3 day sell it should plateau/rebound, but it was looking like bottoming yesterday as well - and that didn't happen. So a waiting game and very uncertain situation as well. We don't know who is selling and how much more is left. Best we can hope it was couple of big holders who wanted to cash in - as they could see their profits decreasing in the last couple of days and sold in a panic to lock in. Next few days will tell. All the best.
MTM Price at posting:
13.5¢ Sentiment: Hold Disclosure: Held
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