it is I agree . And hopefully it happens sooner than most are expecting.
And I actually don't mind the centre point trades , as they can tend to tell a story . Especially on low volume days as well as high volume days when they are designed to attempt to slow the momentum on the volume up or down depending on what the sentiment at a particular moment is.
And being executed in the ' Dark Pool ' there is a certain amount of natural exploratory transparency and price discovery associated with them.
So because they are executed in the Dark Pool. This means that neither side of the trade knows how much on offer is there in the ' Depth ' on either side and also no one knows who the parties or brokers to the bid and offer at the centre point is.
So what I like about Friday's trading ( at least on the ASX ) which was in a relatively down day for lithium stocks including the majors ...., is that with RDN , you had the ticker open at the Centre Point of point 055 cents with only 5 trades totally only 21,148 in volume.
And while I view the small trade volume as a positive , its not just that. Its the fact that each trade was diminishing in volume until the very last one which was just ONE share.
And all of this didn't even start until 11:33 and change or a hour after the market had been open. This tells me that there wasn't anyone on the SELL side willing to sell into what may have been sitting there at the midpoint. It also tells me that the midpoint buyer or buyers were looking to sell how much was willing to sell into that..., and which is a good sign for the SP to move from this to paying up at point 6 of a cent.
Of course hlf hour later at just after 12 pm , the SP went to point 5 on around 46% of the daily traded volume , but then responded with around 45% of the daily volume on the ASX across 8 transactions going through at the 4:10 pm close at point 6 of a cent and the daily high ..., and a 20% high for a stock in a sector which was down between 2 and 6%.
In my view this augurs well for point 6 and higher to be explored more deeply in the trading sessions to follow.
(20min delay)