Whenever you can draw on a chart price rising while volume falling.
The Gap below needs filling,
Right now the Market depth looks thick but I look at what volume is being traded.
IMO the 12% Staker has just taken a position, Solomon was the CEO of MYR for years.
Mabe he thinks another suiter will make a play for MYR at some point going forward so he took a stake.
But that dosnt mean hes going to take it over, hes 72, whay would you invest the entire Billion you have to buy a Company, IMO he wont try and buy it because the price would be mabe double todays price and he wouldnt have the financial power to take it over on his own.
My guess is that he realises MYR will get taken over some day so took a 12% stake,
Either that or he got most of his fill under 1.20c and happy to hold.
Either way I see MYR getting back under 1.10 over the next few weeks as the Hype value erodes from the SP and the speculators trying to catch a wave lose interest.
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)