PP, it's tempting to think that someone is depressing the price to make it easier to offer a cheaper takeover price but imo this is just an easy trade for shorters. One look at the chart and people are thinking this is going no place but down. Combined with negative talk and sentiment, people thinking due to the low price something is wrong etc it's just easy for shorters to play on fears to make a quick buck. As they are in control because they've scared off the investors, it is self perpetuating imo.
They will get caught short soon and they are weary of it, hence the slow start to feel out the market this morning. If you saw no real conviction in buying pressure, you'd think you have a little time longer to play too. With the whole asx down today it's just helping them.
Hard to watch but "Patience to win".
All imo.
Patience to win, page-155
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Last
29.0¢ |
Change
-0.005(1.69%) |
Mkt cap ! $309.1M | |||
| Open | High | Low | Value | Volume |
| 29.8¢ | 29.8¢ | 29.0¢ | $230.2K | 778.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 185462 | 29.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 30.0¢ | 281888 | 3 |
View Market Depth
| Last trade - 16.10pm 07/08/2024 (20 minute delay) ? |
| CAJ (ASX) Chart |