I am not right. It's speculation on another, more sophisticated entities strategy. I just think it would be a clever strategy. The sort of play that makes "partner".
There has been a lot of buying post close. The volumes have been bigger than necessary to manipulate the price. It looks like buying at what is perceived to be the best price. No trader buys after close. Holding overnight is unnecessarily risky.
In saying that, I don't think it is a fund or other upper tier buyer. It may be MEF buying which I would consider a good sign. It may be a low level soph trying to make a spec splash. Worst case scenario it's HC posters Then it's meaningless.
Currently the chart is healthy. A strong move up, catching it's breath and letting the averages catch-up, then, hopefully, another move up. Steps not spikes. In saying that, it could fail at this resistance and roll-over. I doubt the market will have a lot of patience for more failed promises or delays. If it tries to roll-over, that's when I would expect MEF to step in and prop it up...........to a point.
TV2 Price at posting:
1.3¢ Sentiment: Buy Disclosure: Held
Then it's meaningless.
