all sorts of reasons why the price isn't going up, traders jumped on board with their charts - moving average crossovers and other price action derivatives which they go off. some bail not due to fundamentals but charts - so there that as one consideration of selling pressure.
other sellers whom got in at 3 to 4 cent levels see healthy profits so they add to the share price liquidity which was still relatively strong today BTW.
Also the market does not like uncertainty - even though i read the announcement today as a positive as some others did - there are stale holders whom may seek better capital returns on investments - so there's that too.
i do question as anyone should - but to me this but as a positive - the company has had LOADS and LOADS of time to sort this out to accommodate the structure for the government being a holder in the asset....so.... question if you look between the lines is why do it now?
Ann: Market Update, page-39
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Last
20.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $53.28M | |||
| Open | High | Low | Value | Volume |
| 20.5¢ | 20.5¢ | 20.0¢ | $6.375K | 31.86K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 116395 | 19.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 20.0¢ | 1289 | 1 |
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| Last trade - 10.31am 20/08/2024 (20 minute delay) ? |
| PEK (ASX) Chart |