Yeah, you're on to it but I just have too many examples that I could post where it's worked both ways. It's far from proven but if I was looking for a reason to enter this then this is all I can see.
The massive drop in volume today is a worry so will just have to spectate to see how it plays out.
Croc Quote:Lower volume can be explained by the oversubscribed rights issue...It is a tightly held stock well understood by extended networks and not your normal play...The rights issue 100% went to shareholders...Not brokers
Would not anticipate real selling lower than the 40 cents mark...this may be an area where some decide to free carry and true volume of selling comes from ...Until then it's chip away like a good Golf game...$$$
@slick Quote:Daily chart so every candle is 1 day, cup started 12th/5. Show us what you come up with.
To summarise recent higher volume trading days were churn but no net gain of shares...Who was doing this and for what reason? We can assume there was the hope of a shortfall where a large volume of shares could have been picked up and maybe even charged a fee for service. Was not required... From the June T40 update, 2 x larger institutions had failed to take up the placement but one can all but guarantee they have taken up the full 1-10 rights issue...
The new shares being issued on the 12th of July were purchased by long and rusted on...Don't expect these shares to become liquid anytime soon IMO. Traders maybe but not longs who hold a vast majority of the company shares...It will go down to which traders can trade best among themselves...The real value is being long Imo with many holders accumulating substantial amounts...
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