I'm sure they have been given instructions by the company. Whilst the rules state that they can't purchase above 5% over VWAP, maybe the board have instructed that they don't purchase over 1% above VWAP (or another arbitrary number in between 0 and 5).
Essentially use the BB as a support base, and assume that the SP will rise organically.
Today we are looking at a 2% drop in price on low volume, fundamentals a the same, not enough volume for shorters to cover... seems all good to me.
Iron ore price, page-8557
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Last
$22.10 |
Change
0.100(0.45%) |
Mkt cap ! $68.04B | |||
| Open | High | Low | Value | Volume |
| $21.99 | $22.22 | $21.87 | $84.79M | 3.834M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 9803 | $22.09 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $22.11 | 10620 | 3 |
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| Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
| FMG (ASX) Chart |