Interesting trading recently, previous yearly high was around 37c
On 25/11, price broke out on high volume, closing at a new high of 40c
We had 4 days of rising prices on high volumes, today volume for 4 days of 3.5 mil
Then announcement and 2 days of falling prices on high volume, today volume for 2 days of 3.5 mil.
Today back to low volume and more stable trading.
Looks like some very shorts term traders have now moved on!
Was this insiders buying up before the announcement and selling after??
It could also have been "Turtle Traders" who buy up when the price breaks into a new high.
It looks like someone is patiently accumulating shares since before this latest flurry and are continuing now.
I think we will see increasing institutional interest with the increasing market cap.
Some of the small cap funds may be interested with a market cap above $50 mil. Others will wait for $100m.
CMP Price at posting:
44.0¢ Sentiment: Buy Disclosure: Held
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