Big volume today, and now the 1.5c level has loaded into the...

Big volume today, and now the 1.5c level has loaded into the sell line (around 14.5m sitting there at close ) :

VWAP was just under 1.5c on both ChiX and ASX

https://stocknessmonster.com/trades/avl.chia/





Why the sell off?
• I guess maybe some of those talks we’ve been told of might have fizzled out?
• Or maybe a last minute move to drop the price into a lower range prior to a cash raise or share consolidation?
• Or non-exciting EPA news is expected*
• Or a technical ‘spring’ being created prior to a price jump?
• Or a large holder upping stakes to free cash for some other  opportunity?

Spoiler : *Current Minesite EPA positions as of September quarterly

https://hotcopper.com.au/documentdownload?id=uOMxKKzFkiWRTLKhOROKAxjvTDYL4Q25yBH3v/Zv87FiGug=



(The fact there was specific reference to the old TMT approval now being at ‘12th hour’ on the EPA clock, and then an additional note there is a SEPARATE approval now in process for the minesite and CMB (crushing, milling, beneficiation) plant made me wonder how much joy a Ġabanintha mining approval will bring to the price)

Anyway, FWIW the Commsec AI noted today that the trend here is still “bearish” but the rallies occurring at shorter time frames are “very bullish and means that investors see opportunity in this stock .”
It cites the 5-day moving average being  above the 50-day moving average and the fact the 20-day moving average is rising as contributing to this perspective.
- So hopefully today’s price/volume negativity will be short-lived.

cheers