It has been brought up time and again by HC members, including myself, that the Fluence share price is being manipulated, which would be obvious to anyone who has closely followed the daily trading activity since the merger. Thanks to
@madanglighthouse's post of 7th June we can get some insight as to who could be the main offenders.
How many times has it not happened that, after a positive news announcement, the SP has risen briefly only for unrealistically large sell orders to appear just outside the trading range driving the price back down. These large sell orders are never filled and were never meant to be filled. And how many thousands of one share and other small trades have been executed after the merger, solely to push the price down. The "high frequency trading facility" at the ASX has been used extensively in this activity, which I know for a fact from experience when placing orders.
Unfortunately it's not just Fluence, and not just the ASX where this manipulation is occurring. It's a worldwide phenomenon which is tolerated by the very regulators who are supposed to be policing the activity. Consider the current Royal Commission investigating our financial institutions and the criminal activities finally being addressed. The regulator was aware of many of these years ago, and did nothing.
The bottom line is that us poor retail investors have no chance of outsmarting the big money and share prices no longer reflect fundamentals. Having been invested in Emefcy since the 86 cents days, and seen the euphoria evaporate since the merger, I feel for those fellow HC posters who have been forced to sell at considerable loss and no longer appear on this forum. I think many of them have suffered financially, not because they made a bad investment decision, but because they underestimated the capacity of big money to skew the playing field. Must admit that I was one of them, but fortunately only invested the funds I had available, so have been able to ride out the decline - a painful experience to say the least.
Today's price action following a very positive announcement (see comments by
@willchang409) has convinced me that the manipulation continues and that further accumulation will be in evidence amongst certain top 20 holders.
What does all this mean ....... inevitably the supply of cheap shares will dry up and the manipulators will no longer be able to buy shares at a lower price than they sold them for, precipitating a sharp rebound and a sustainable uptrend.
Considering the less than ethical trading prevailing nowadays I think technical analysis has become a necessity. Fundamentals are still important, but not an indicator of short to medium term SP movements.
I've been trading since the days when chalkies wrote the bids and offers on the boards and it's been sad to see the financial sector decline to such a state of moral bankruptcy.
End of rant ....... thanks for reading if you got this far
Best wishes to all,
vango
(20min delay)