Nice weekly close

For those interested in technicals - a WEEKLY closing price is always worth watching out for.

We closed at 11.5c today

If not for the frenzied buying that occurred between midday and the close on the afternoon of Friday 10th June (10c to 12.5c), then today's close is an all time closing high (on a weekly basis).

This only adds positive momentum to where the narrative of the stock is heading at the moment.

Okay - so, yes - we have seen it trade as high as 14/15c - but nothing sustainable - it quickly retreated to the placement level but today's close however, is different.

There has been lots of depth in the Bids and the stock but has met with solid, persistent buying support plus reasonable - though not explosive -  volume. I suspect once the Traders are removed from the equation, we would discover that there hasn't been too much turnover of stock by the long termers. That was the same as what was ocurring prior to the explosive move that started back in May.

Oh  - and one last little snippet - nice to see Mr Hunt buying that "nice" little parcel of $100,000 on market during the week.

All in all - a nice week to be sitting on the VRC beach watching the waves roll in. Positive times ahead I think.

Coop