As I mentioned in my previous post, this is the same repeated pattern that's happened in RR1....large single seller of a large parcel that takes out the whole buy side, we've seen 10m to 25m individual sells like this happen after a few days or a week of the buy side building up large individual buys like that 15m buyer that's been at 1.2c all week and wasn't a fake bid as they slowly moved to the front of the que and was sold into with small amounts before today being dumped into entirely.
Like I said, given the repeated nature of this, it's become evidently clear that it is being orchestrated, same with the open at 1.3c that snuck in the last minute; this has happened in previous days that a similar sell down occured. The patterns are there, just most don't notice as they're not watching the trading live (which I am).
It sucks for retailers as they can't see the patterns unfolding without watching live or diving deep into analysing the data but even then you won't see the minute by minute movements of the trades and the buys/sells in the ques.
A good chunk of stop-losses were triggered at 1.1c as I watched them come on to the market.
Very likely as has been in the past with these individual big sellers is that it was to themselves or a known party, unfortunately ASIC doesn't bother to investigate these things, as there was a recent prosecution of a trader at JP Morgan I think who was placing "prop" bids on the buy side which is illegal if those bids are not truly intended to be filled (cough cough the 23.5m at 0.001 for RR1)
It also only seems "big" to most because most here are everyday retailers buying $500 to $50,000 but a lot of traders do trade with $100,000 as one parcel of trade from a 7-figure portfolio and can have up to $200-$300k or more in on stock even at this end of the market.
The other issue I have with the individual stock threads is how so many have blinkers on with that one stock and don't take time to look at what's happening in the Macro environment.
Overnight had the US markets down, the Lithium sector took a massive hit with the Global X Lithium ETF down -4.06% after Bank of America downgraded ALB and forecast oversupply of lithium in 2024/25 to join JP Morgan in their fear mongering campaign (which the market falls for).
Hopefully some take this on board, just trying to help educate after nearly 20 years in the markets and I understand the frustrations and panic many go through in these moments.
RR1 Price at posting:
1.1¢ Sentiment: Buy Disclosure: Held
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