Last we took a rise we were bouncing off the 10.5 resistance like a ping pong ball. Expected it to break and form new support. Then we saw the relentless feed into buy lines...wasn't clear initially why SP was getting screwed down. Then we did know...big boys resizing...triggered stop losses...the clever accumulate the weak capitulate. That simple. We're all cautious to see sell off done and confirmation thereof. Looks like we might be there (but )...I at least...not 100%...but confident).
When we do know then LT's with high averages likely will regain some confidence and try to lower their average in turn pushing SP north. New players that have researched thoroughly are waiting for the confirmation or have likely piloted in...another driver on no nrws.
As for Imo's comment above re need 10-15 mill vol....sure would be nice...but can tell you that 2-4 mill volume daily can make our SP scream north if sell side stays tight.
So...no news...natural attrition North on sell side presuming close of high flow into sell side by the biggies.
Good news? Then we will see big volume and then patient holder your 12.5c investment may well look very modest. Why? Because all good news is ...well...good! But given our space there is potential for really BIG good news...and that kind of event can drive SP through roof...we could get many of these in coming months...many!
So...took a lot of unloading to exhaust buyers...they will miss these prices. Of course, need to take into account pip traders early on but they will become less impactive as SP rises.
Overall consider your sizing/exposure/average...strategise your trade and hope for positive momentum remembering we've been horrendously oversold for months and be thankful that ExC was as candid as he was and that we had our intrepid posters track down broker and Top 20 movements. You don't get that on many boards. In fact this is the first stock I've been on that those seiously important bits of information have been drawn together.
Also for our T/A STT friends that exited on the TA...always said I entered here on FA...TA great for entry if FA sound.
Here exit for some was TA based frustration I think...maybe sidestepping...not a terrible idea I guess...hopefully they'll spot the northerlies and take new invigorated positions as well....very common technique amongst "non loving" seasoned players...so basically if sell side tightens...bit of time and we'll be churning through the lines like no tomorrow. Remember small MC...quality of the Co...this a pretty damn sophisticated operation in this very short time...can't think of anything comparable really...and history of excellent (no BS) anns and overall performance to date. Culture of understatement is great and rare.
Anyway...let's see if the sell feed is finished...if so won't take long to see the "toot toot" sentiment kick back in as we start wiping the lines again...which by the way if you check the chart is a much sharper and rapid incline than decline...and if our double bottom comes througg...blueclsky is back and beckoning...depends on quality of news feed I guess for the massive moves but even the modest wull give us the push we need to make these prices a bad memory.
GLTA new and old.
NUH Price at posting:
6.3¢ Sentiment: Buy Disclosure: Held
(20min delay)