Well Jako my friend, I jumped into MMS today at $11.93.I tried...

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srm777

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26/03/19

13:04

Post #: 37886398
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Originally posted by Jako8557: ↑

COL today,

Gee, so little supply was drawn out on a sharp down day across the broader market, that it eventually closed slightly higher.

I am pretty sure that some would have liked it lower again (to allow time for the the 'offer' to reload), but demand is easily strong enough so that engineering a decent pull back probably becomes too expensive.
Anyway, it is fast running out of sellers at the minute.
Perhaps if the US pulls back a bit more, and out market follows in sympathy, it will worry some holders enough to flush out some more supply. If not, it may have to slowly grind higher to satisfy the underlying demand, but I don't expect a true breakout to be supported yet.

cheers

PS - I noticed a similar potential accumulation pattern on MMS over the weekend. I don't know if circumstances are similar there, or not. Perhaps I need to look more closely at the entire ASX 200 stocks, to see if there are others.

cheers

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Well Jako my friend, I jumped into MMS today at $11.93.

I tried pre market limit at $11.90, but my super platform wouldn't allow it, outside the acceptable range apparently, as the ask was $12.80 at that time. Apparently i have to set a longer time limit, (keep the order open for 30 days) to be able to buy a stock at a greater discount than the ask.

So i had to can it.

Got back online in time to see a large dip and got my order in on market limit just missed the $11.89 mark.

Very interesting to see the large volume and subsequent fluctuation. The timing is everything.

I am now spending my time looking for similar accumulation trends.
To see the quick dips that 'shake the tree' as it were is really quite exciting.

Anyway, thats my story.

Stu

XLD Value at posting: 1,125.2
1 Upvote

0 Great analysis

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