I may be wrong... it has happened before...
But hammering a share price on release of results when the buy stack is thin is a fairly classic move... particularly if there's a results conference happening right at that moment. All the factors align for an awesome response to the triggers:
1) People haven't had a chance to digest the results, so they think somebody else has turned up a bad thing.
2) People who aren't tuned into the conference think something terrible has just been revealed.
3) The lines are thin so you can wipe out of a lot of them without having to risk a large short position.
4) The outlook for Regis is extremely strong so you can cover your shorts and still take a large position at a low buy price.
I hope I'm not wrong... I doubled my stake on the dip!
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Open | High | Low | Value | Volume |
$1.65 | $1.69 | $1.62 | $7.424M | 4.468M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
4 | 19775 | $1.67 |
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Price($) | Vol. | No. |
---|---|---|
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No. | Vol. | Price($) |
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4 | 19775 | 1.670 |
9 | 108102 | 1.665 |
6 | 31490 | 1.660 |
5 | 64449 | 1.655 |
3 | 53940 | 1.650 |
Price($) | Vol. | No. |
---|---|---|
1.675 | 15224 | 2 |
1.680 | 2760 | 2 |
1.685 | 53943 | 9 |
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1.695 | 37635 | 4 |
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