Has climbed from a close of 53c to 58c and not a lot of sell...

Has climbed from a close of 53c to 58c and not a lot of sell volume left.



My post yesterday:
Yes, I have a couple of large watchlists with only a couple in the green - one being this baby - it certainly is a very positive signal. I was watching RCR fairly closely this afternoon and a few large buy orders (1-200K+) flicking on and off at 51c and 51.5c. Then the slow climb to 53c. Slow and steady. The key thing for me is there is not a lot of sell volume left. There was maybe 200K on offer up to 60c. Seeing those buys today, my gut says an Insto is accumulating a position or building on an existing one, leading to the profit and dividend announcement in the next month or so. As you would expect we saw the same climb last year leading to the FY profit/dividend from about 75c to a ex divy amount of $1.23. Lucky to see that SP this year, but I think we are very much on track for 70c with only neutral news. I say neutral because with the spike in the fortunes of the miners in the last few weeks, I foresee that we will see some new contracts come in.