I can't help but feel this buying yesterday was primarily driven by just one party. When the price was increasing, it appeared that most of the buying was off-screen and not really driven by queue jumping buyers. It was really evident when the price hit 7.6c and there were virtually no buyers back down to 7.1c and 7.2c.
IMO, this could be good news if an insider is scrambling to acquire shares at any cost but conversely, if/when this buyer has had his/her fill, if no other buyers step up to fill the void, the SP could easily track back down.
We really need sustained buying on large volume from many parties. The technicals are solid right now and if traders decide to capitalize on this excellent trade opp, we should see the depth we need to really push north. But without a committed and persistent buying campaign, we won't be going anywhere.
We've missed the EOFY buying opps for Aussie customers but in hindsight, it may have been a deliberate strategy by NUH. Why release your product into an environment at a time when consumers demand discounts? It wouldn't be smart so I'm not expecting Aussie retail info until the EOFY sales have passed.
Good work Nuheara.
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