News: Panorama Synergy, Mining Projects Group among Thursday’s Volume leaders, page-5

I dont know sydney.

But the VWAP is the key.

Normally with a major spike you will see the price racing ahead of the demand giving a lower VWAP with the closing price a fair range and not anywhere close to VWAP. This results in a retrace over the ensuing days in most cases.

However PSYs volume today and high VWAP 39.2c very near the closing price of 41c instills confidence that buyers were keen to pay at those levels. Last half day of churning and profit taking did not dent the SP much at all, hence if there is a retrace it will not be as severe and would be a top up opportunity. But highly likely PSY will keep on going up tomorrow finding that next fundamental market cap.

I am thinking $300 million as the next level.