Ann: Stage 2 Aircore Drilling Commences at Kanowna East, page-2

Very quiet in here

Excellent price action today (and late last week as well)...if you've been watching closely, you would've noticed the below since 1st Apr:

- high volume on buy ups
- low volume on pull backs (e.g. 23.5c test today)
- iceberg seller at 25c (resistance) seems to be cleared
- today's buyer stepped up from 24 to 26c with 200k'ish lots incrementally at each pip clearing asks; even haven't bothered that there isn't much support underneath e.g. when the bids at 26c were 250k, the next bid was sitting at 24.5c

Someone is bullish on the company's future or betting that the upcoming AC results would be good (but that doesn't makes sense as AC results often are just guidelines, unlike RC/diamond drilling results which are more solid indicators)?

Or someone got a direction to grab a decent sized position...new hands since the Viking announcement seems to be more stable and stronger compared to older ones...time will tell. Not much chatter here or on other social media, so don't think it's all retail.

Interesting data from broker report too...Morgan Stanley sold all of their accumulated lot for possibly a small profit (have no clue on why they patiently accumulated for over a month in Feb for such a small profit)...their last lot was the 140k sell on 1st Apr @21.5c. On the flip side, Morgans started buying on the day Viking news was announced, and been consistently buying pretty much every day since then...won't be surprised if it's them scooping up today too, need to wait for a few more days to confirm.



I'm no chartist, but can see a mini flag formation on the daily chart, with today's closing price poking out just out of the top of the flag...if the AC results create some excitement, then we'll be off! If there are too many expectations on those (like what happened with EMU lake) and punters are disappointed, then support (at least declared bids) is thin underneath, so watch out!

All IMO, please DYOR!