I have noticed that the SP rises by about 4c to 6c immediately after a good news story, only to be dragged back by a sudden flood of stock which spooks buyers. Any momentum is short lived. Why? IMHO, shorters aren't the only problem. BPT needs a larger volume of buyers to break the shorters' stranglehold and maintain momentum. Well d'uh you say. The real problem is that institutional investors make up 78% of the usual buyers. Unfotunately most of these people aren't buying at the moment because they follow rules - they must tick every box that they have been taught or told to follow. One of them is: no matter how cheap you think the stock you must not buy until it is in a strong upward trend. No institutional investor will invest in BPT until this occurs - they like their jobs too much. Particularly after the bollocking they've had recently. So BPT is trying to perform a rally with roughly a 25% buyer participation. It is my opinion that when market confidence returns, you'll see the rally you want. Institutional investors have been accumulating a bucket full of money after all.
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Last
$1.24 |
Change
0.010(0.82%) |
Mkt cap ! $2.794B |
Open | High | Low | Value | Volume |
$1.24 | $1.24 | $1.24 | $373.5K | 283.4K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
4 | 27606 | $1.24 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$1.24 | 83365 | 7 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 74 | 1.290 |
3 | 10636 | 1.265 |
1 | 20000 | 1.250 |
1 | 1 | 1.235 |
5 | 105462 | 1.230 |
Price($) | Vol. | No. |
---|---|---|
1.165 | 46 | 1 |
1.170 | 1514 | 1 |
1.200 | 331 | 1 |
1.210 | 1617 | 1 |
1.225 | 6335 | 3 |
Last trade - 10.02am 30/08/2024 (20 minute delay) ? |
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