SPQ 22.2% 1.1¢ superior resources limited

Ann: Quarterly Activities Report, page-144

  1. 4,973 Posts.
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    I would add that in this phase of development, the banker control line I have posted before a few times on the point and figure charts is a good indicator of value (5.9 cents). Price has a habit of returning to mid range with the cut and thrust of the market until data can be built upon. So the market makers use this line to hold and slowly build their position, pushing price down at times knowing they can mark it up to maintain their store of value. Its how it works until the growth stage in the market cycle. Then new banker control lines are established and so it goes on with the ebb and flow of price some wish to trade, if we were generally speaking.

    "Some", is not the rule here, because the majority of shares have are well held cheaply for position, for greater gain, as means of de-risking as outlined in the video above. As Mode said, well held at a price of around 1.3 to 1.5 cents. I am sure a few are in below that, to enable them to stay the course. It seems the traditional market makers have been somewhat minimised with how far they can push price down from the banker control line they are operating from because SPQ is well held to effectively minimise free float. There is an automatic stabilizer in scarcity, so price rises. They do not have the shares to play with. A sound lesson was given to the market maker with 1.4m being taken out in one hit. The strength lies with the holders who have deep pockets looking for greater gains in value. So IMO, buying under 5.9 cents is buying sub value because it is below the banker control line and price will rise above that in the course of price fluctuation to restore value until take-off. There are opportunities should buyers wish to trade about the banker control line the pros establish, or pyramid their holdings as I have on the dips. These fluctuations are just noise to those with a longer view. Each to their own.smile.png
 
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Last
1.1¢
Change
0.002(22.2%)
Mkt cap ! $20.01M
Open High Low Value Volume
1.0¢ 1.1¢ 1.0¢ $13.02K 1.298M

Buyers (Bids)

No. Vol. Price($)
2 2000000 1.0¢
 

Sellers (Offers)

Price($) Vol. No.
1.1¢ 4451530 3
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Last trade - 14.36pm 05/07/2024 (20 minute delay) ?
SPQ (ASX) Chart
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