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clock Created with Sketch. 08/07/16
21:37
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Originally posted by PhillW
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Yes, I didn't want to say anything because I would only be speculating but it did appear to me that there is a plan to have buys and sells transacted at 7.8c. To what objective I do not know but 7.7c seems to get stacked and if the share price runs to 7.9c a heap of sells appear between 7.9-8.3c to cap the run. Interesting that your figures indicate that 4M shares have been short sold at 7.7c because from what I have observed over the last 2-3 days is that most transactions occurred at 7.8c. Technically the FAR share price is in a very tight trading range with buyers even though the buy side is stacked up to 7.7c unwilling to chase prices higher and sellers unwilling to sell into the buy depth at 7.7c. What we have is market where average volatility has dropped to extremely low levels indicating that buyers and sellers are in agreement on price. The function of the market is that you cannot have agreement between buyers and sellers for any length of time because that is not how markets work especially when that share price trades with a higher volatility. What is occurring is the FAR price is coiling for an explosive move. The direction is anyone's guess but the potential targets from the triangle pattern are 6.4c or 9.2c.
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I have found that 7.6 builds up strong support so about right the share price settled in the 7.7 to 7.9 range where buyers and sellers are comfortable trading. Shorts are operating on a very low margin , it baffles me why they bother anyway the 4 million short could be very likely be a springboard and I'm waiting for a break out soon.
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