Just added up what UBS were doing on the 24th when we went down to the double bottom on the charts.
UBS sold 152,997 shares
UBS bought 83,775 shares
They sold a net 69,222 shares on the 24/10/24...
On the 24th they sold 69,222 shares and the next day, the 25th, they were net buyers of 11,068 shares but pushed the SP up by $2 to above where they were selling on the prior day. In other words when they were constantly selling on the 24th someone was buying up what they were offering, but when they went to buy shares back, it sent the SP higher very quickly as there were no sellers to them...
All UBS's 'work' at the end of last week has cost them over 50,000 shares down near the lows!! LOL..
It doesn't mean they wont have another go, but they have learnt that someone else is buying around these low prices.
Also the collateral given back on the 24th and 25th to cease being a substantial holder, might mean they are giving up on going short, or whatever they were trying to do, but if/when this happens trading volume will also go down a lot, as UBS have been trading the majority of the day's volume for a long time...
WA1 Price at posting:
$13.72 Sentiment: Buy Disclosure: Held
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