I am usually very reluctant to analyse trading patterns on speculative stocks as i often believe that those that do are invariably clutching at straws and/or over-analysing things to either suit their purpose or to make themselves feel better, however, over the last few weeks i have noticed a distinct increase in volume associated with some interesting trading. I would be interested to hear others' thoughts on this, particular tweets, hangseng, syd and others.
It seems to me that there is clever accumulation going on at the 2.9c to 3c range. It appears that these accumulators are capping the stock and nullifying movement by stacking sells at 3.1c and buying in 1mill aliquots at 3c/2.9c. I also note the large numbers at 3.6c.
Obviously there are frequent sellers recently who are feeding these new buyers and the play-off seems pretty interesting.
There's obviously not long to go before this goes Bang and it seems that these guys are intent on buying up as much as they can in a controlled manner and clever manipulation of market depth.
Would be interested to hear everyone's thoughts.
Whichever way you read it though, it's looking pretty darn' good at present.
NWE Price at posting:
2.9¢ Sentiment: Buy Disclosure: Held
