LIN Market Movements

During the past week I have been suggesting that the LIN shareprice will recover lost ground. Why have I been saying that and creating contraversy in the posts of the down rampers?

The LIN shareprice started its recent run on 24th May when the sp started to climb from a base of 3.3c. On that day 3.6m shares were traded as the sp closed at 3.9c.  A trading halt was quickly imposed.

On 27th May after a bullish announcement trading recommenced and 65m shares were traded. The sp jumped to a range of 4- 5.6c not seen since early 2020 before the Covid crash.

The opening of the next week on 30th May saw volume jump to 71.5m shares and the sp hitting 8.9c. A close not seen since 2012/3.

The rest of the week saw LIN as a wanted share with 213million shares traded for the week at an avg price above 9c and a high at 10.5cents. What a week!

This past week has seen global markets on the decline. The ASX down due to a higher than expected jump in Reserve Bank Interest Rates hike. The week will end with only 30million LIN shares being traded. The sp range being 10.5c to a close estimated as I type at sub 7cents.

In conclusion over 280million shares were traded as the LINDIAN shareprice reached a nine year high but only 30million shares were traded this week as the market and LIN share price retreated.

I can only assume that a massive quantity of shares purchased above the 9cents range is still held by investors. They are not selling at depressed prices. Therefore a recovery is not too far away.

Others may have contrary views.