How easy to forget, but in the period from 19 April , this year, the SP was stuck in the region of 33-39 cents range for 31 trading day.
Any buyers and holders during that period until now, where the SP is currently 49c, are still holding onto some handsome profits.
However to still be holders they must have seen the SP escalate to 78.5 then fall to 53 and then again rise to 70c without talking any selling action.
More recently faced with a serious slide down from 70c of 21c (30%) to 49c in just 5 days.
A buyer in that stagnant period at say 35c is still holding onto 14c profit (40%). Not hard to imagine that some of these taking some profit off the table if they think that the short term direction is still downwards after being on that rollercoaster for half a year. They were sitting on 100% profit just 5 TD's ago.
Just one possible explanation of where some of the sellers could be coming from.
SMN Price at posting:
48.0¢ Sentiment: Hold Disclosure: Held
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