Was just reading Tibbs's theory about the Hanlong takeover bid, ie heavy sustained buying in the lead up to the announcement, then using those holdings to cap the SP at 44c /45c (Just look at the sell side this morning). Great insights!
Looking at the SP over the last few weeks.... reminds me of someone trying to stand up but keeps banging their head on the table above them :)
I hope you're prediction is right and sustained buyer interest will exhaust the capping strategy and push the SP up to low 50's..... ACAP to soon follow to mid 50's, and who knows, a revised offer from Hanlong, and up we go further towards fair value
strong buyer today, page-20
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Last
$3.71 |
Change
-0.030(0.80%) |
Mkt cap ! $567.0M | |||
| Open | High | Low | Value | Volume |
| $3.72 | $3.83 | $3.71 | $2.398M | 642.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 32245 | $3.71 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.74 | 300 | 1 |
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| Last trade - 16.10pm 21/06/2024 (20 minute delay) ? |
| BMN (ASX) Chart |