The price action is over for about a mth...
It happened starting a few weeks ago and finished just after 1400hrs.....going up signicantly...then sellers flooding in...
Why?
1.. They had positioned for the drill by increasing there investment....to try and get a free carry once the drill was announced...
2. No announcements due for about a month....say for example oil shows in the drill would need to be announced...then price action...again....
3. Some holders moved there money to FAR ....to position for there two drills due in the next mth or so...
Both Pcl and Far have some common share holders.
Some of the shareholders who sold today did so with the intention of buying back over the next few weeks....hoping to get some coverage by selling high today then get back in again as shareholders get a little impatient waiting for news...
Think about it a little and it will make sense..?
IMO
just supposing sunbird-1 hit a major oil field, page-6
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Last
1.4¢ |
Change
0.000(0.00%) |
Mkt cap ! $113.8M | |||
| Open | High | Low | Value | Volume |
| 1.4¢ | 1.5¢ | 1.4¢ | $53.65K | 3.700M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 6408136 | 1.4¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 1.5¢ | 11818565 | 14 |
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| Last trade - 16.10pm 31/10/2024 (20 minute delay) ? |
| PCL (ASX) Chart |