WA1 1.74% $16.37 wa1 resources ltd

What gets me is how easy it was to push the price down from the...

  1. 47 Posts.
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    What gets me is how easy it was to push the price down from the $18s to $16s within 24 hours. Yes you can say it was the weak hands were making a bad decision or selling down some of their parcel.

    But it left a sour taste in my mouth even though I brought a very small parcel at $16.74 (50 shares) because I thought the price was ridiculous.

    But for me it looked there was no reason for this fall until the big buyer exposed themselves at the end. In the first instance I thought the buy wa a bluff. And then when it was withdrawn for a couple of minutes it looked like the price would close in the $15s. But they came back at $17.26 and they got to pick up at best 864,000 shares for around $14.9 million.

    Now I know they are serious and have approx 300,000 left to buy in their original buy order. So for all the potential sellers out there will they take notice of what games this buyer will play tomorrow or in the coming week? Can the opposite occur and the buyers push the price up as they know there is still a big buyer off screen?

    Yes, I was annoyed with what happened in today's trading but I will say to the large buyer: 'Very well played." If I had the same sort of assets and a smart broker I would like to think I could do the same because I would not have thought of this strategy.

 
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Last
$16.37
Change
-0.290(1.74%)
Mkt cap ! $1.004B
Open High Low Value Volume
$16.75 $16.96 $16.32 $4.830M 290.4K

Buyers (Bids)

No. Vol. Price($)
1 2982 $16.37
 

Sellers (Offers)

Price($) Vol. No.
$16.40 3130 1
View Market Depth
Last trade - 16.10pm 07/06/2024 (20 minute delay) ?
Last
$16.42
  Change
-0.290 ( 2.48 %)
Open High Low Volume
$16.77 $16.94 $16.34 11007
Last updated 15.59pm 07/06/2024 ?
WA1 (ASX) Chart
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