Merv, what would have been there float 5 years ago? One would assume it is down to dilution?
Either way, 933% gain in 2 months is a bag. I'm not interested in RDN as per-say just observing modes loaded pockets.
In relation to large holders exiting quickly, there are many a possibility. Imo, a large holder willing to dump that much value obviously has motives, those motives don't necessarily align with retail investors, so anything in their way of exiting a position for any reason will be wiped through.
It would have been interesting to have like market data during the sell-off to observe the source of the volume. But, if we go off what we've seen through delayed market data, It wouldn't be a far throw to assume a firm has dumped the price. I recall sharing a screenshot, CommBank and others firms leading the pack, trading 10m, 15m shares within 4 days... (Ultimately controlling price by scalping)
It could also be worth noting that SPQ didn't / couldn't hold above the bearish trend-line. Not necessarily a bad thing, as price may have needed to consolidated nearer to 3c before an eventual move. 3c being the most traded level. PoC, Point of Control refers to the fairest price a buyer is willing to buy, and a seller is willing to sell, resulting in the most traded level. (The PoC is the horizontal blue line, the graph on the right is a visualisation of how many trades where executed at that level.)
3c never used to be the PoC! This developed end of Jun to end of Aug! Hopefully, this means price action *shouldn't* fall too far bellow it. That sentiment has been set by the market, not me, the market decided the "fair value". (Accumulation level, also confirmed by the RSI Divergence)
In short, I don't think the holder(s) that dumped where retail. Although, due to yesterdays performance it could have spooked retail investors that may sell today... I'm personally not worried with current performance, as I'm waiting for assays before I make trading decisions. This will be an interesting rest of the week imo.
Limited technical analysis, I've based the above on volume alone. Abnormal for retail activity.
