A friend of mine did a bit of an analysis on the trading pattern for Prima from 1 Sept2009 to 1 Nov2009. The pattern emerging from the analysis is that the average volume over the period shows that on sp up days the average volume is significantly greater than on share price steady days and significantly greater than on sp down days. Even with the prevailing current lower volumes the average volume is greater on up days than on down days.
People can draw there own conclusions if this has any bearings on proceedings. My own interpretation is that people have been buying the stock in greater numbers when it moves up and selldowns involve a much lower turnover. This to me means that shareholders are not dumping into lower prices and that there is sustained higher buying pressure at times, that pushes the sp up. It looks like the stock is treading water at the moment pending the spp being out of the way and also pending news on phase2 trial progress.
PRR Price at posting:
14.4¢ Sentiment: Buy Disclosure: Held
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