A trigger for a rise in price would be for the shorter to go and play elsewhere. There has been one dogging this stock 4 out of 5 days for the last few weeks (Fri 19/2 30%, Tue 23/2 36%, Wed 19%, Thur 28%, Fri 26/2 20%, Mon 1/3 10%, Tue 27%, Wed 26%, Thur 4/3 5%), (http://www.asx.com.au/data/shortsell.txt). He has very deep pockets and is very persistent. The stock price is currently being set in staff meetings - not by the market. A better guide to the real trend of the stock is ELDPA (The Elders hybrid) which is continuing to rise.
The only upside is that the last time this happened co-incided with a new (upward) notice of substantial holding. Possible (repeat) target of mid to high $1.20's - would be a screaming buy at those levels. He is continuing to reload/drip feed sells at current levels of $1.31.
big buy, page-5
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Last
$8.19 |
Change
0.080(0.99%) |
Mkt cap ! $1.288B | |||
| Open | High | Low | Value | Volume |
| $8.08 | $8.25 | $8.08 | $2.902M | 356.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 1816 | $8.18 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $8.22 | 2041 | 2 |
View Market Depth
| Last trade - 16.10pm 02/07/2024 (20 minute delay) ? |
| ELD (ASX) Chart |