I think tomorrow, (it goes ex-div), may give an indication. If it trails off as you'd normally expect, then I'd reluctantly have to admit the likelihood that the strength may have been about picking up the dividend / franking credits as much as punting on a counter offer.
Been as high as 2.50 today, and currently no-one wants to sell below 2.48. Only 600,000 sellers in all to 17mil buyers; 11.5mil of those @ 2.43 - 2.44.
Question is, will that wall of buys remain there tomorrow, in an expectation of ex-dividend selling? If they do, and the buying increases around those levels, then I'd be encouraged enough to say we are still in play! ( these are my amatuer thoughts - dyor)
There are now so many funds holding above 5% of stock, I just wonder if they're all acting for Shell, or if we can still expect a fairer offer to come.
EPW Price at posting:
$2.48 Sentiment: Hold Disclosure: Held
these are my amatuer thoughts - dyor)
