PNV - Chart, page-10799

I believe the bullish morning sentiment is driven by overnight orders from outside Australia. Once that initial tranche of orders has been filled, few more come in due to the time differential between Australia and Europe and the Americas. The negativity that manifests later in the morning and persists through the afternoon is likely driven by local short sellers. This can only be resisted by local buying, which at the moment appears opportunistic rater than aggressive. This will change with positive sales reporting, when that happens. Will it be this quarter? Hopefully the return to near normalcy in the United States will drive demand.