The simple answer is that there has been a greater amount of shares put to the market by 'motivated' sellers, willing to hit the bid, than there have been motivated buyers willing to hit the ask.
Now you can speculate on various reasons why that might be the case. One such speculation is 'tax loss selling', which is a distortion for June which is driven by individual motivations external to the market. Given that recently a lot of shares were traded above the current price, and that some proportion of those currently holding a 'loss' might have an external motivation to sell and book that loss for this financial year. It doesn't take much to cause an imbalance. If this speculation were somewhat correct, you might see that it has the effect of 'bringing forward' some supply from the future to the now.. such that after June there might be a 'lack of supply' on market.
UCM Price at posting:
20.5¢ Sentiment: Hold Disclosure: Held
