PART 2 - Market Depth
Market Depth remains quite thin, not untypical for small caps right and at the moment the sellers seem to be competing with the limited number of buyers
so lets look a little further into that SELL side a bit more,
only $139K through to a BUY level of 6.0 cents
only $174K through to a BUY level of 6.5 cents
only $278K through to a BUY level of 7.0 cents
and again they are all low value small order quantities
We know the Top 20 hold over 75% of the share register (and they're not the people selling here, or if they are we're yet to be informed of a change in significant holding announcement), so the remaining 25% are responsible for the recent price movements.
Does anyone else think that if the recent sellers (and I am going to categorise them as retail holders) who are selling at these times when there is a limited value left for further share price drop potential (zero cents is only 4 cents away but is not the sentiment of the 75% of the major shareholders), were to simply sit out of the market as sellers and influence the SELL side into being even thinner then we might see some interesting price action ?? You'll be still able to place a sell order when a price level is met, rather than sit in there creating a list for everyone to compete against each other in moments of desperation and maybe illogical thoughts
At these prices I think it is ok to see / expect some days where no share volume is traded, just my opinion
Anyway just some data to break down the sentiment and which shareholder groups I think it is coming from ...
(20min delay)