There are definitely 2 forces at work here.
Someone is trying to hold the price as best they can while others are buying up as best they can.
Based on the trading and what I can see over the past 6 months is someone is trying to build as big a position as they can while trying to hold the price back.
All available trading information and past experience tell me that this is acquisition type trading and possibly 2 different entities trying to build a stronger position. Both have deep pockets but 1 is working harder to keep the price in check.
Happy for those to have opinions to the contrary and only time will tell......
PNV - Banter and General Comments, page-77
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Last
$2.47 |
Change
-0.120(4.63%) |
Mkt cap ! $1.704B | |||
| Open | High | Low | Value | Volume |
| $2.58 | $2.58 | $2.47 | $3.191M | 1.271M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 15844 | $2.47 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.48 | 22823 | 2 |
View Market Depth
| Last trade - 16.10pm 18/07/2024 (20 minute delay) ? |
| PNV (ASX) Chart |