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There is an old saying in the stock market: Amateurs open the...

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Red Baron

3,957 Posts.

6603

21/02/17

00:24

Post #: 22764326
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Originally posted by malay ↑

The share was sold down because of the placement. Now that has been done with, the SP coming down to meet placement SP, buyers are buying in view of the 9% discount. Coincidentally there is this window at the 53c level which is now also closed. Trading wise, the holders have cleared themselves of the stock and now has to restock, you will see them buying to bring the SP up again. You can tell the professionals are closing the market in the last 2 days in buying back what they have disposed. The buying is likely to continue on tomorrow.

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There is an old saying in the stock market:
Amateurs open the market, professionals close it.
Never buy on a Monday morning.

GXY Price at posting: 55.5¢ Sentiment: Buy Disclosure: Held
11 Upvote

0 Great analysis

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