Matt,
The smart money knows.
10.08am - 4.3m. 2.8 / 2.9
10.13am - 4.5m. 2.8 / 2.9
10.33am - 3.5m. 3.0
11.03am - 2.2m. 3.0
Change up
2.39pm. - 6.5m. 3.1
2.52pm. - 8.3m. 3.2
2.55pm. - 4.8m. 3.3
3.38pm. - 2.2m. 3.4
3.48pm. - 3.5m. 3.5
The above big buys are off the fence, often line wiping.
To come in silently like this for big qty, means someone is serious about wanting qty.
I posted big orders late last week, same thing, they really go to town after 2pm.
Looking at the chart, resistance was 3.1c from 27/4/21.
More recent, the first attempt at cracking that was on 29/8/23.
Then 1/9/23 for 3.2, beast historic resistance and recent, but did not hold.
Then 4/9/23 for 3.3 and closed at 3.2. set new resistance and held.
Then 5/9/23. High 3.2c, but below 3.3c new restistance, above historic resistance, but closed under it.
Today. Broke resistance easily and set a new 3.5c resistance and close on the days high.
Next resistance is 3.7 from Nov 2020 but minor.
Next major resistance is 4.3 / 4.4 from Oct 2020.
Present depth is 106m buy to 16m sell.
Bugger all big sellers
1m @ 3.6c
1m @ 4c
3.5m @ 4c
1.1m @ 4.2c.
Last week we had 5m and 7m sells in the mid 2s, that do not exist at all now.
Some institutions took up the cr, it was mentioned they were new.
As the raise was over subscribed and may have been cut back due to it, maybe these new holders are buyers for additional.
Plus the awareness factor. Ie pre the cr. They may not have researched raiden.
On down days, there was reluctance to sell, against up days with off the fence relentless buyers.
Mum and dad, and pip traders do not do 5m, 8m share hits.
Also as this occurred last week too, the acquired shares never got sold back to cover. Ie yesterday is a good example on the down day or last friday
Tommorow, if 3.7c falls, 4c should be an easy get.
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