If the Hotcopper data is correct and there really is such a tiny amount of retail investment the determining power lies with the insto holders who would be given more professional advice to what retail are privilege to. I would suspect from a value point of view that such holders would not like to sell their shares for less value than their published target prices.
I am mindful that instos and dealers will likely be privilege to information before retail which could allow a window of time to make a bid just before a price sensitive announcement is made either bringing forward the timing of the announcement or release that the announcement is coming (which is price sensitive as well, IMO).
In conclusion I don't think there would be much action on any bid in the 2.00's that would just be bridge burning to me. September quarterly is coming up and I suspect this will solidify the support level.
Usual disclaimers: All my opinions only. Not professional financial advice.
GLTA
GXY Price at posting:
$1.77 Sentiment: Buy Disclosure: Held
