Poked around a little this afternoon and calculated [IRESS data supplied] that since then high of77.5 on 27/04, 97 million shares of 907 million, have cycled through the register. So, let's allow for 10%. Little short sell activity has happened either.
SO, is it a major holder offloading , or a small amount of trade activity selling into the ask and rebuying? Again, little volume, unless it's well hidden.
At least today had a smattering of bid side buying and it didn't appear as though at market sells were as prodigious. Let's hope we are starting to lean on support and the selloff loses some momentum. If not, then it could get a little rugged into the OFY, as traders sell off losers in order to write off some CGT tax and stay out of bracket creep.
Unless there is some strong announcement shortly , the SP may just drift along until something gets traders active again.
Guess I'm in for used cigarette butts and home brewed grog, instead of fine scotch and Cubans for the time being...
MLX Price at posting:
48.0¢ Sentiment: Buy Disclosure: Held
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