I am enjoying reading your charts and learning about charting in general. I can't help but think about some fundamentals. Since Aug 24 when HO said the instos were certain that ACR would be in the ASX200, there has been a moderate increase in volume. Since Aug 24 we have seen 6,968,842 shares changes hands (about 4.2% of the company). I don't have the prices to hand but an an average of 3.79 that's $26,411,911.
HO initially said we would see a $20m injection while instos bought up for index funds. Keep in mind some ASX300 funds will be unloading and buying Hills etc. I wouldn't say we've reached that $20m necessarily because we would otherwise have traded about $10m worth (at an absolute guess) but it may not have a huge way to go?
After the managed fund reshuffle takes place (which is not strategic really at all - just sit and hold to track the ups and down) what do you see from then?
ACR Price at posting:
$3.87 Sentiment: Hold Disclosure: Not Held
