Sell orders are out of character - over the fence!212,600 for...

Sell orders are out of character - over the fence!

212,600 for sale at 39 cents.
297,922 for sale at 40 cents.

This is not genuine.
Sellers of this magnitude would not flag their attentions so flagrantly.
Institutions are not into stupidity when it comes to managing such matters.

Shows all the signs of a blocking move to keep price low.

We know the buying pressure is all but exhausted - until positive developments that is.
So institution can be blatent in building large sell orders.
Knowing they wont be snapped up.

Miningnut's suggestion that this could be a move to keep share price low leading up to a rights issue (my interpretation of miningnut's post) makes more sense now.

Institution with millions of shares will clean up if rights issue comes after a period of low share price.

All the more reason for smart money to accumulate.

Cheers

NT