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1.37%

7.2¢ vitura health limited

Ann: Vitaco First Half FY16 Result, page-159

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oslo

5,687 Posts.

27/02/16

00:04

Post #: 17131162
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Originally posted by simonmj ↑

Brokers are recommending this stock BUT their recommendations are not backed by aggressive institutional buying. There is a famous quote by Keynes: "The market can stay irrational longer than you can stay solvent.”

Like I said before, the fundamental analysis may be good but because of the lack of liquidity in this counter, it is behaving like a small speculative mining stock. The price can be easily be pushed even with small volume. Notice the 5-10% drop for this counter on numerous occasions.

Ask yourself, if the share is such a screaming buy, why aren't the fund managers rushing in. The most plausible conclusion is, the funds have already bought at the IPO and now bailing out at any decent price. Unlike retail investors, most institutions would have bought around $2.10 and they are willing to sell at breakeven or a small loss. And when you have big selling volumes going through, fundamentals are ignored ( at least for the short term).

For every seller, there is a buyer. It is the closing price that determine who has the upper hand. Since the SP closed at its low today, it is clearly the sellers who have the upper hand for now.

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Top 20 hold 79% if it's them selling why now? They had 4 months to do so when the SP was above $2.10.

VIT Price at posting: $1.72 Sentiment: Buy Disclosure: Held
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(20min delay)
Last 7.2¢		Change -0.001(1.37%)		Mkt cap ! $41.46M

Open	High	Low	Value	Volume
7.0¢	7.3¢	6.8¢	$48.93K	705.4K

Buyers (Bids)

No.	Vol.	Price($)
3	500715	7.1¢

Sellers (Offers)

Price($)	Vol.	No.
7.2¢	463	1

View Market Depth

No.	Vol.	Price($)
2	500000	0.071
3	167400	0.068
2	60000	0.067
1	50000	0.066
5	154118	0.065

Price($)	Vol.	No.
0.072	463	1
0.073	76827	1
0.076	92299	1
0.080	95651	1
0.081	100000	1

Last trade - 16.10pm 29/08/2024 (20 minute delay)

VIT (ASX) Chart