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
