Range trading from 1.03 to 1.05 for a few days before **sellers dry up** at 1.05.
Hence breakout to the upside. It is hard to imagine (or surprising for someone like myself) how stronger prices suddenly convinced previously absent sellers, unwilling to sell at 1.05 to start dumping at below 1.05. Where was the 1.03-1.05 seller? Playing golf? it is possible!
Just seemed odd to me given the apparent unchanged status quo. Hence my suspicion that something was amiss yesterday. Seems to have bedded down today though.
As for the instos, they have been manipulating this for months. just go back to when I started buying this at around 25c, read my comments and as a long termer you would have observed constant capping the whole way up with large sell orders being pulled when threatened.
"exemplary" and "institutional trading" are mutually exclusive!
IRN Price at posting:
87.4¢ Sentiment: Hold Disclosure: Held