My guess is some of this placement stock is finding its way on...

My guess is some of this placement stock is finding its way on to market today ahead of the appendix 3b being issued.

It would be interesting to know from those that participated in the placement if the stock is showing on their accounts?

If the stock is not on people's HIN's and those that participated in the placement are selling ahead of the appendix 3b, this is actually against ASX listing rules and viewed as a naked short sale.

It doesn't make sense otherwise for the price to hold up all week in the low 5's to be punched out now with volume to the placement price.

It will take a few days / possibly week or two to chew through the placement stock that finds its way back to market.

15 day MA failing to be taken out becoming further resistance which technically was the catalyst for the move lower. Iam expecting to see the lower end of the bollinger band at 4.6c touched. If this fails to hold and we see further volume push through the market on the offer Iam looking for the gap back to 4c to be closed. Whilst I don't want to see this play out, Iam purely looking at the charts to see where support and resistance are coming in + what the momentum indicators are showing.