Because there is a line on an electronic chart somewhere in a...

Because there is a line on an electronic chart somewhere in a large broking office where a broker is trading a large shareholding on behalf of a client (most likely an institution.)

The intention is to squeeze cheap shares from distressed sellers and the process will continue until that technical line is reached. Having accumulated a lot of cheap shares (its easy to sell at this and higher prices when you are 100% confident you can buy back lower down - called shorting) and having performed to the criteria laid out in the trading plan it will then go back up - quite probably driven by an announcement that will hit the market at the same time the shareprice hits the bottom target price.

Anyway, thats enough about institutional shorting in general and trading to a mandate.

PSD. In particular. The target appears to be 10c. But then I posted that weeks ago and got no sensible reply or response. LOL!

See you at 10c!

Cheers,