As was stated on the Charts thread, the Director sell off (despite the forward knowledge of the informed market know they would once the technically hit the production milestones) has changed momentum to the downside and under the daily MAs.
People would do well to understand momentum thematics and how they are related to any volatile market asset. A bit of Newton's First Law of Motion... The Director sell halted and inverted momentum (along with the current flat U price), that was established as a result of the Uranium supply demand narrative + management hitting their milestones... price moved ahead of the curve and now is being balanced out.
Momentum is unlikely to settle until something (or a multitude of things) of similar magnitude as the Director sell materializes.
BOE is being shorted and is at risk of a gap down or two.
The scenario @Alex.shipway is superimposing, is normal. Its not just fundamentals that drive a market's behaviour, its human behaviour, which is often irrational and culminates in blow off tops and gap down bear spikes. Its a Bear.
As was stated on the Charts thread, the Director sell off...
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Last
$2.95 |
Change
0.010(0.34%) |
Mkt cap ! $1.208B | |||
| Open | High | Low | Value | Volume |
| $2.98 | $2.98 | $2.89 | $6.904M | 2.353M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 13250 | $2.94 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.96 | 19432 | 4 |
View Market Depth
| Last trade - 16.10pm 13/08/2024 (20 minute delay) ? |
| BOE (ASX) Chart |