hmmm ... well, given the fact that I know no-one is dumb enough to make trading decision based on what I say ... (you may regret asking my opinion, but it is the weekend ...)
my feeling based on chart / trading activity / etc is ...
1. The large bids are Finlays (I think to hold the sp up to counter reactions to placements, but there could be other reasons too, and they obviously have no problem buying them at 3c, tho if my understanding is correct they get paid in shares at 1.5c which would average their holding down from 3c).
2. They didn't budge for over a week despite being sold into, so they're genuine. And logically, you'd suggest that means they expect the sp to go up.
3. The sp has held >=3c for the past 8 trading days and hasn't looked like going below, despite some placements and NO news. Admittedly helped by those bids (but having said that, they did provide plenty of opportunity for anyone to take profits or get out at 3c!).
4. Even tho it seemed to me (just my opinion) the price was being held in the low 3's, there was no significant selling off that suggested bad news.
5. After a definite rise from 2.2c the share price has been in a holding pattern since hitting 3c.
6. There seems (again imo) to be something happening behind the scenes with this one (just a feeling I've based on watching the trading patterns).
7. Is it more likely that RRS would request a trading halt prior to positive news or negative news???
I may be over-analysing here, or just thinking out loud (you might wanna think twice about asking my opinion in future :-D ...
One thing I really don't know (anyone else???) is ... it would seem to me the only reason Finlays would prop the price up is at the request of the company and paid well to do it. But Why? RRS has spent a lot of time in the 2's, why do they want to establish in the 3's NOW, and be prepared to make sure it happens NOW? It seems logically connected to the trading halt.
Based on these things ... my feeling is more positive than negative.
But we'll know next week ... one way or another :-)
cheers
RRS Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
