Unfortunately it is usually just those immoral algo's that are trying to arb ASX v Chi-X latency. If they can't make their front running spread then they just exit on the close.
You have highlighted the lack of any real sellers at this level so if there is no follow through selling next week I suspect the buyers under 4c will get impatient. Once that 2.8c low was made last time it was not easy finding sellers until we reached 4c and that got blown away pretty quickly. If the pattern repeats then there will be some traffic between 5-5.5c and then a blow off to 6-7c+
I'd prefer a reason this time but until we get to a 100-200m MCAP I gues the reason is simply that it is still undervalued.
PYC Price at posting:
3.9¢ Sentiment: Buy Disclosure: Held
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