In my previous post I mentioned that at the first time last Friday a relatively strong support area between 32.5-33c was broken. Based on a trader tactics it was a signal to sell but being by the nature a trader this signal was not taken by my consideration for a relatively large holding (4 parcels of shares) as I invested in this stock.
With today's stock price action a relatively big volume was traded just for 2 hours of trading and the SP has reversed what is called by a false break for the corresponding chart behaviour. Usually this happens when big shareholder on some reason manipulate the stock price initiating stop losses execution and picking up shares at a cheaper price.
So in the current circumstances taking significant fundamentals in the company there are only 2 scenarios:
- whether there is a selling by a big holder on some reasons (unknown to the market) or
- a big holder is deliberately playing a game what is more realistic taking the fundamentals of the company.
irynka
LOM Price at posting:
33.5¢ Sentiment: Hold Disclosure: Held
