andy, IMO there was nothing vague or potentially rampy about that announcement. It was an open and shut, crystal clear, RIPPER RESULT, frankly, beyond my expectations.
SO
you have to conclude than ANY volume, given recent CR, can only be accumulation by broker nominees (automated mid-point), or placement overhang clearance by broker nominees (automated mid-point).
Given nearly all the trading is low margin either way, I'd suggest the latter is still affecting the true SP level. 260million is a lotta shares.
The trading range is effectively 0.001 cent and significant volumes are churning on that metric, which reaffirms placement interests are protective of at least some profit margin. I don't see anyone running for the exit here, its clearly programmed.
Thats a good thing in my view as it suggests brokers can still achieve client profit, without a margin-destroying dump, and by implication that's recognition of the EFS result underpinning the SP.
Despite being frustrating, it does reveal a solid reluctance on market, to sell below current levels which are now peaking at greater than the original margin offered in the CR itself!.
As soon as selling stops, it hits 1.3 again. Thats accumulative pressure...and its consolidating
AKK Price at posting:
1.2¢ Sentiment: Buy Disclosure: Held
