I don't think the bounce is very surprising - there is no news and not enough volume to indicate that it is insider selling.
My take on it is that the late aftermarket selling on Friday followed by a weak Dow led to panic selling on open that arrested at support of 3.7 (did not hit 3.6). People are now buying back in because it was a 4.5 stock last week and nothing has changed.
Possibly, following the ASX queries about the 7mil holder capping the stock the operator said "screw you" and sold out after market to induce the panic. This would have allowed them this morning to pick up all the shares they want cheap.
Thanks though to whoever sold me a package at 3.7!
Finish the day at 4.1 (i.e. open) is my pick.
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Last
$3.00 |
Change
0.050(1.69%) |
Mkt cap ! $209.5M |
Open | High | Low | Value | Volume |
$2.94 | $3.04 | $2.92 | $297.4K | 100.0K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
4 | 7387 | $3.00 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$3.03 | 3000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
4 | 7387 | 3.000 |
1 | 388 | 2.990 |
1 | 693 | 2.950 |
1 | 10000 | 2.750 |
1 | 130000 | 2.700 |
Price($) | Vol. | No. |
---|---|---|
3.030 | 3000 | 1 |
3.040 | 2449 | 1 |
3.050 | 15000 | 2 |
3.100 | 13854 | 1 |
3.150 | 10646 | 2 |
Last trade - 16.10pm 17/07/2024 (20 minute delay) ? |
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DSE (ASX) Chart |