Chart, page-26

So looks like SNT in consolidation mode.
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Last week I had written that there is a chance a lot of play in short term could happen between mid 5s to 7. There were 2 reasons - one a big gain was already been made in last few weeks. Secondly a large number of CR shares were to come on Thursday that were bought for 6. There was a spike before Thursday, SP went up to 7.8, but the rise could not be sustained. Since CR shares have come into market, price is hovering around the CR price of 6. Incidentally it also finished at 6 on Friday.
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So what is happening? At this stage I feel, there is nothing unusual. Based on my writing and thoughts last week, I probably was half expecting this play. It may take a bit of time to churn thru this consolidation phase, under normal circumstances. Things could change in either direction, if there is news or a big holder decides to add/subtract. Platinum has take a big hit on PER, selling over 90% of its stock there, probably on a decent loss. So it would be interesting to see how they approach SNT. Do they go all the way to recover all their loss, or start taking profits to offset some loss? We will know, as it has to be a sub notice. Second factor is Bell Potter how they play. they had target of 10c on old shares, should be just over 8 now for them. They can really price if they want to, but may be wary of Platinum. Otherwise, us retail plebians, many have very long time frames, so this phase is just a passing phase. Some may join. Overall ASX stock market in speccy world has been very devastating for at least 1 year where on average punters may have lost. So some may try to gain from here and offset. So balanced at this stage.
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Personally I have not yet bought back the bulk at early 7 level which I wrote earlier. Watching for any clues around trading patterns, but haven't seen anything significant till now. I will wait for now to see where/how it settles.
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So what may happen next week? Till now price has held well I thought - last 2 days after CR shares came in. But its early days. Also we are heading into holiday season where volumes may decrease. So there is a chance it may linger around here for sometime. But the stock has been volatile. Best not to assume anything. I will follow price action. Between 5 and 8 it could swing on a hot or cold day, otherwise in normal weather stay around here, I feel. Hope something good happens soon