The last 10 trading days have seen around 60-65c increase at time of posting from 29th October intraday low. This is around 33% increase.
Last real news was well spud on 25th Oct, which didn't really set the SP on fire.
Quarterly Activities report released 29th October (coinciding with the most recent low)
From there has been up, up and away.
There is no doubt there are bots on this one (take a look at course of sales).
Now I know there has been a fair bit of discussion in another thread i started, and was all really healthy discussion on the long term prospects of the co.
What i am interested in is, what is driving this. I guess no one knows for sure, but would love to hear ideas.
To start off, to my knowledge:
* No re-rate/ new price target/ to my knowledge.
* No announce to spark this off.
* No milestone about to be hit.
* As someone suggested, although asset sale on the way,might not see transfer of funds till after end of FY.
* No real change in fundamentals.
* Hasn't moved in ASX ratings as far as I am aware.
* DOW and ASX still over the shop (ie. not a bull market)
(happy to be corrected on any of these)
Now someone is taking chunks out of this one, systematically. I listened to the recent investor pres, and yeah whilst impressive technology, and number of projects on the go, was not really anything there to suggest urgent buying.
This might be the same trend of accumulation I previously suggested regarding accumulation prior to asset sale (potentially by insiders). But to me it looks like something is on the go.
So, back to my question, what do you think is driving the LNC rapid SP rise? Personally i don't believe this is mum and dad investors. So who? And why? And when will it stop/ or (heaven forbid)reverse?
This is not a down ramp. I hold some traders, and some long termers.
Cheers all
- Forums
- ASX - By Stock
- LNC
- accumulation???
accumulation???
-
-
- There are more pages in this discussion • 26 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add LNC (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
LPM
LITHIUM PLUS MINERALS LTD.
Simon Kidston, Non--Executive Director
Simon Kidston
Non--Executive Director
SPONSORED BY The Market Online