Over the past week or so I have seen the props come and go (just as we have seen this afternoon) as NMR has been accumulated.
The good thing about this mornings price action is that it looked natural - ie not manipulated. This afternoon the props began appearing again. The last few days the buy side has been 7-8 million and the Sell side has been around 24 million.
The great thing about today is that the number of sells has dropped from a consistant 24 million to between 19-20 million.
Which to me translates to people buying for medium to long term.
If there is any selling from the release of the performance shares - this will be done and dusted in the next week or so.
VWAP today says that support is now there around the mid 4's!!
Heres hoping for a nice run up till close!!
PB
NMR Price at posting:
4.4¢ Sentiment: Hold Disclosure: Held
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