Even when people were stepping up to buy, it was sold into a big way. So someone wants to keep a lid, who could it be, not us retail who are looking for higher fruits.
It could be -
Shorters - They have been very active and if some had open positions from previous days, they would want to get out in the front. So possible, but usually they are not active on up days - so only on open positions.
CR Sophisticated Holders - The way the selling was happening, there is a good chance some of these are exiting. Many would be happy for 10 to 20% profit within weeks. Plus they would still have Options to convert at 8.1c, so they could just hold to that. I would be happy if most sellers are these, as better to get rid of these dead wood as soon as possible so that they don't interfere in rises. There were 176m shares issued last Monday, I am thinking we could see them active for only a couple of days more. Last 6 days 440m shares changed hand, so possible most who want to sell at this level are nearly gone
Capper/Accumulator - I feel this may be the main reason why we are seeing this action. It was clear someone wants to keep a lid and accumulate. The buy and sell alluded to that as well. It is good in medium to long term but does not give a good feeling in short term. But personally I feel they would not be able hold this much further as the macro conditions are changing very fast.
So although we didn't get a rise of around 10% which was expected and some others got, to stay within the range of 5% was good. Especially considering there was a concerted effort to keep it low. If something is suppressed for some time, when it gets free, it would jump like a spring coil. If external conditions stay favourable, we could see it this week. We are due for a big jump and it may come suddenly very fast, hopefully. Looking forward to that, with a good feel. Please dyor.
AGE Price at posting:
7.3¢ Sentiment: Buy Disclosure: Held
