Australia's largest stock trading and investment forum Australia's #1 stock forum

NZS

0.00%

0.2¢ new zealand coastal seafoods limited

Support is at 2.2c Breakout point., page-323

First 323 Last

Share
Profile

Follow
Flasbang

401 Posts.

02/05/16

22:26

Post #: 17657606
Share

Originally posted by aaronsaunders ↑

The whole register turned over when the price was spiking up - meaning that the overall average holding price is higher than it was prior to 20th April. Let's say a heap of the holders now have an average >2c.

If you check the depth of market, you will see that the sell side is thin between 1.1c and 2c. Id say the people that panicked today sold out (oversold) out to 0.7c. Instos def will have bought into this, they are very good at this. Knowing that a bulk of the register is over 2c means after the panic selling, there wont be many sellers up until 2c region. In other words, most people selling below this will be at a loss, only a portion of investors will sell at a loss like this.

With all this in mind, XTV should be quite stable from 1.1c to 2c.

The buyers would have been instos who will make a mint off the panic selling, Day Traders and current shareholders who want to average down. All three wanted a piece of the action, so price goes up. The only near term risk imo is picking when the instos decide to bail and move on. Generally this is 100% from what I can tell from broker data, so there might be a roadblock at 1.6c-1.8c, but they may hold off till 1.9c. After this, retailers will be in control and determine the price - whether it goes up or down from that point. Instos will also work their magic to make their profits.

Also, trading this and getting caught in a TH from this point would not phase me - they have no other LOI's to cancel on, any TH from this point would them picking up a new partner.

GLTA, tomorrow is a new day!

Expand

There is no way instos would of been buying today mate I'll bet my left nut this dumps tomorrow

XTV Price at posting: 1.1¢ Sentiment: Sell Disclosure: Not Held
3 Upvote

0 Great analysis

Reply

Top Stories

TTT

Titomic jumps +6% as it incorporates Microsoft Hololens tech

AHK

Ark Mines provides strategic update following mining lease submission

STK

Rogozna grows with gold equivalent grading 1.1g/t across 545.7m for Strickland

RCE

Recce progresses testing of gel to treat bacterial skin infections

LU7

The Breakdown: Lithium Universe talks refinery design and lithium processing in strong preliminary feasibility study for Bécancour