I am very skeptical when the SP drops and holders scream "Foul Play! - Market Manipulation"... From an external POV these people just look like whiners... I know it does exist... but locating it is hard.
I currently don't hold (I have recently though) but think NST has great Fundamentals (subject to POG & USD/AU Dollar). I watch every day, hoping to buy in for a long term trade.
So where am I going with this... Well this morning... Pre market depth showed the following...
1 Buyer for a significantly cheaper 83532 shares at 0.99 ... AND
1 Seller for a significantly pricey 83532 shares at 1.18 ...
Quite often pre-market manipulation is hidden amongst several orders. The above however blatantly shows an attempt to churn ... This is no small parcel, this is $100K trade (Dont take my word for it, Feel free to calc that bad boy)... Just for the purpose of artificially increasing the volume.
The current NST price is way over sold. Yes POG is slipping, but NST is getting slammed.
Your thoughts are welcome, tell me if you think I am over reacting, making connections that aren't there (23 Enigma)
Oh by the way... Note the time .. 1 minute till market open
Now you might say ... Far2D2 ... Wait a sec .. they might have pulled the order before open. Check the time stamp in the image above.... Cutting it close ... and the evidence of the completed trade is in the image below ... Compliments of bell direct :/
NST Market Manipulation - Churning
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 (20min delay)
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Last
$14.08 |
Change
0.200(1.44%) |
Mkt cap ! $16.18B | |||
| Open | High | Low | Value | Volume |
| $13.97 | $14.25 | $13.82 | $65.72M | 4.670M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 65564 | $14.08 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $14.10 | 601 | 1 |
View Market Depth
| Last trade - 16.10pm 31/07/2024 (20 minute delay) ? |
| NST (ASX) Chart |