There they are, the sellers again at 26-28c trying to top pick, 5M and counting got wiped high
but the volume buying keeps building, not even 5M sells have this insto buying group perterbed.
They wiped up 18M on friday at 27-30c, they wiped 15M on 22-28c thursday now they wipe another 9M 25-27.25c today.
From this action i have to say that some insiders or expert mathematicians have worked out or know the Q1 blowout results, the sellers have no idea looks like. The sellers have been Punk'd.
The sellers are on TA trying to pick interim tops, they tried at 20c & 23c & failed, they tried at 30c (maybe), they tried at 27.5c friday (failed x3 intraday), they tried at 26c today. Looks like ST traders from 13c-20c picking a top and cashing yet the long insto buying with volume & barcharts.com is telling me a different story.
Late arvo selling yet looks may close at 26.0 or higher. The buyers are calling a Q1 surprise blowout and the sellers have no idea whats coming. On my maths i have to agree this imminent Q1 report will be a blowout. What then, what will the buyers do then with little resistance already cleaned out three times up top?
The market does not expect a cashbuild, profitable production or sharply risen realised sales and sharply lower COP from all that reported slashing by 27%-44% of expenses/liabilities in 2015 AR.
Whoever sold at 20c-23c last week is spitting chips right now....maybe the sellers last few days at 25c-30c will be spitting chips also when its 33c-43c soon. I would hold off and wait, the buying is insatiable with large volume.
