They believe it all looks like genuine trading. This should give us all a bit more confidence.
Thank you for the information regarding RES in respect of possible Market Manipulation.
Your observations in relation to RES have been passed ASX Surveillance for consideration.
Surveillance notes that on 27 October, there was a seller for 143,000 at 5.3¢. As this was the pre-open period, the offer was likely to have been inserted at the low price in order to get priority on the selling queue for the Closing Auction. We have reviewed the history of trading from the particular broker and adviser and it appears that the selling was genuine and not manipulative. There also have been lower prices for the stock but the recent selling is from various brokers and again the trading appears normal. In this case we do not propose to take further action but appreciate you taking the time to let us know.
RES Price at posting:
70.0¢ Sentiment: Buy Disclosure: Held
