UMC united minerals corporation nl

chart analysis and price targets, page-6

  1. 13,335 Posts.
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    Hi Joel

    As you are well aware, charts are unable to isolate a big seller and/or buyer. They are also unable to pick-up on why a seller with a decent parcel needs to dump.

    My guess is that we do have (had) someone within the top 10 who needs to sell for a reason other than UMC related. Even Blind Freddie can pick the cunning manipulation of this stock which commenced last Thursday. Actually, the main buyer isn't quite so cunning since it appears he knew of the impending dump and 'primed' the stock for his onslaught.

    Think about it for a moment. We know that the auto bots punished this stock last Thursday and the sell side has been consistently stacked with dummy orders, yet we did not see any aggressive buying to coincide with the deliberate capping until the sp dropped to a level of $1.10. IMO, this was the level which the big dumper refused to go below, so the main accumulator was quite happy to trade at that level.

    IMO, and as one expects, the sheep were the first to get sucked in and they kept chasing the downturn until eventually they woke up to the clever ploy....or have they?

    My patience is wearing very thin with this stock and if I fail to get a satisfactory reply from my concerns I raised with the ASX, I'll be one of the next to depart from the registry.


 
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