Since i have been following SSN the SP has not gone up because someone has leaked a potential announcement. I would be surprised if this was why the SP went up today.
There are other reasons why the SP might have gone up other than the manipulation theories being thrown around:
- today, the support @ 0.027 was obvious because there were hardly any sellers left willing to give their shares away. People who had sold out were forced to buy because of increasing demand.
- what makes people assume that the value of SSN shares is 0.027 or 0.032? we consolidated with similar or worse fundamentals right up to a high of 0.041.
- as of yesterday's trade, the AMEX price for SSN was equal to the ASX price and their chart looks very bullish. the bollingers on the AMEX chart have really opened up. some might have predicted what might happen on the AMEX tonight.
- the indicators on the ASX chart for SSN are looking really bullish.
if the stock cannot continue it's rise it is because it is in a short term overbought territory - it has risen above the bollinger band. it might need to consolidate between 0.03 - 0.034.
the other day the stock rose from 0.026 - 0.029 after the announcement but did it stay there? no! why not! is that because SSN was not worth 0.029.. . . . . who knows. . . . . . has anyone done a valuation to know what the company is worth. . . . . is this a company whose SP is driven only by announcements. . . . in which case we will still see pump and dumps . . . . .
i am not a professional valuer but I think the market has not valued SSN properly. as new market participants are becoming aware of its projects they are pushing the SP around . . . traders are using this to accelerate the short term movements in SP.
SSN Price at posting:
3.2¢ Sentiment: Buy Disclosure: Held