There is buying but only at the retail level (day traders, mums and dads), to get the volume (and hence the price movement materially upwards) you need the institutions to start buying.
To get that you need a "trigger"!
I thought the "new" valuation of BMG (via the recent sale of 20% to Itochu) would have been that trigger!! Boy, was I wrong.
As I said back in May 2005, "No trigger for the institutions to pull (and therefore for them to commit funds to buy BPT shares in bulk) other than:
Hurricane-2 success (success defined as commercial hydrocarbons);
Demonstrated performance from both BMG and Delhi; or
Unconditional Alinta gas sales agreement."
We all know what happened to Hurricane-2 and the Alinta gas sales agreement. Still waiting on demonstrated performance from both BMG and Delhi to trigger something.
Work out what the next catalyst is and then you will know when it will start moving north again.
massive buy oportunity, page-29
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Last
$1.25 |
Change
0.030(2.46%) |
Mkt cap ! $2.851B | |||
| Open | High | Low | Value | Volume |
| $1.23 | $1.28 | $1.22 | $15.32M | 12.28M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 286283 | $1.25 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.26 | 39750 | 3 |
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| Last trade - 16.10pm 18/10/2024 (20 minute delay) ? |
| BPT (ASX) Chart |