Little bit of broker data & brief observations which might be of interest. It certaintly tells a story.
Firstly, let's take a birdseye view, over the last 10 days of trading, then zoom into 5 business days, and finally the specific high volume day of 9th Aug.
Timeframe: 10 Trading days ( 30th July > 12th Aug
- Euroz netbuyer. Buying at average price of 0.015, and selling at average price of 0.018 (ie, they are range trading over a few pips - BUT - it should be noted they are a Net Buyer over this period of time.
- Commsec (notoriously retail investors) - a net seller at average 0.015 (i hate to say it, but this looks very much like a 'shake down').
Timeframe: 5 Trading days ( 30th July > 12th Aug
- Euroz AGAIN a netbuyer (at 0.015), and almost non existant selling.
- Commsec AGAIN - a net seller at 0.015 (yes, you are likely getting pilphered by instu investors). If you're reading this Euroz, bravo.
Timeframe: Specific high volume day and what I suspect was capitulation (
Friday 9th Aug).
- Euroz solely buying (at 0.014 - what a bargain!).
- Commsec a net seller at 0.014.
I hope this helps to paint a little bit of a picture. The pullback today (15th Aug) was on low volume, after yesterdays (14th Aug) buy up - this is looking on the charts very much like the early stages of a reversal - of what has been a brutal medium term downtrend.Keep in mind, over the next few months (even as early as next week possibly) we are about to get REAL information/data on pel87 (not just speculation which has been driving the sp so far).
Quick one on the charts:- Stochastic - starting to bottom on the weekly timeframe.
- MacD - entrenched downward momentum is easing, and appears to be a few weeks away from a reversal (i'd expect sideways movement within 0.014 - 0.018 range - unless there is imminent hard catalyst, ie, news). But who knows.
- Decent volume yesterday, on a low volume pullback today. I'd love to see this close Friday above 0.018 - but maybe overly optimistic. Patience.
(20min delay)