The trading over the last few days has been very telling.
To me it looks like a position is being built-probably by newly interested parties who have seen the appointments of US water market insiders into the company.
Whomever is building a position takes everything on offer, then throws on the brakes by selling a few on a crossing or an on market sale to slow the price and, in yesterdays case, reverse it. This then sees further short term traders place sell orders on the sell side.
But, it looks like supply is drying up on this stock........all the ducks are lined in a row now with great US market potential for growth, and once it does dry up, there will be very swift moves to much higher levels as FOMO kicks in.
For the first time since Efemcy days, I am extremely comfortable with my investment.
I am looking for resistance at 30.5c(as per chart attached) and then the most recent high of 33c, but after that......... we will save targets for once we break above 33c.
Enjoy the ride everyone-this has been a long time coming.
Chart, page-501
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 (20min delay)
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Last
12.0¢ |
Change
-0.005(4.00%) |
Mkt cap ! $129.7M | |||
| Open | High | Low | Value | Volume |
| 12.5¢ | 12.5¢ | 12.0¢ | $15.22K | 123.4K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 175663 | 11.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 13.0¢ | 23084 | 1 |
View Market Depth
| Last trade - 15.54pm 12/07/2024 (20 minute delay) ? |
| FLC (ASX) Chart |