How carefully did the VP word his statement? I believe that he believes what he said, but I also think that large holders are shifting.
The Soros fund traded down its ownership a few per cent over the last few quarters. But I think they and other players are just taking advantage of current sentiment to lower their average cost. Marengo isn't really updating the holding lists anymore so its difficult to get a clear picture.
The stock isn't widely held so its unlikely that such a large jump in volume could be supported without a round robin of trades from current large holders or a new accumulator.
Who knows?
potential downtrend reversal chart break, page-40
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Last
82.5¢ |
Change
0.010(1.23%) |
Mkt cap ! $92.38M | |||
| Open | High | Low | Value | Volume |
| 81.5¢ | 86.3¢ | 81.5¢ | $230.2K | 273.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 9999 | 82.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 84.5¢ | 8000 | 1 |
View Market Depth
| Last trade - 16.10pm 05/07/2024 (20 minute delay) ? |
| MMC (ASX) Chart |