Yes a lot of bullish sentiment on the thread ... some genuine optimism ...suspect some forced optimism also.
Seems closed red today and a touch of 23c... Hmmm
Cap rise price was 22c so you would expect some support there... you would think. If it breaks below say 21c and closed @ or below 21c then alarm bells will start to ring ...That should not occur given that was the cap raise price. I would expect many have their stops around there and if simultaneous fired could cause a unwanted result. The insto traders will know this... Why because where are all the stop orders held? on the brokers systems (Bit of a conflict of interest scam if you ask me... so I never use Broker stops as a consequence).
Looking at the depth queues (Which may be being manipulated ) we have
1.07m To buy and 12.97m share to sell currently
So 3 sellers for every 1 buyer currently
So lets take an objective look at the "Trade or not ledger"
On the Positive side
Expected launch this month of Beta version of Air Pocket
Recruits some big names/investors in finance from S.American target market region
Approaching cap raise price (assume natural support level)
Overall positive sentiment on HC ?
High'ish day Vwaps
Volume dropping off for last few days
Likely short term volatility only until beta
Has cash, no need for raising or some time
Freehold optimistically (maybe foolishly) waiting with a large empty truck at 12-13c
On the Negative side
Unusual Behaviour of stock ... Pattern of afternoon selloffs trading against what TA is suggesting for last several weeks
Net sellers are big brokers, net buyers are retail investors Mum/Dads (Better if reverse of this, big money is smart money usually)
Balance of buyers to sellers 1:3 on queue indicates more immediate selling to come
Mcap not cheap @ 42-45m lately (IMHO)
Possible Large cluster of stops just below 22c (ie, 18-21.5c) may trigger unwanted movement. Nasty Broker may force it to test stops
Last few days are low volume but not compared to say April avg
Uncertain News flow after beta release
I'm still of the view that the insto's are controlling the movements ie the top 4 brokers on the list I published the other day and mums and dads are simple pawns in the game... tomorrow will be an interesting day for sure
DCC Price at posting:
23.0¢ Sentiment: None Disclosure: Not Held
