I think your right.
There is no "institution selling" happening.
People see big volume sells and think - must be a large player.
Think about how many traders have been getting on the NDO bandwagon the last month. A handfull pull out, this leads to a SP drop - other traders think a big seller is in, so they sell too.
Ultimately it will come to a point where most traders are out, and the fundies will place their buy orders based on their long term view of the company.
This will lead to "support" emerging (14c seems to be supporting well last two days)
Then the traders will be back in, causing a rise again.
All in all - I don't care as I'm in it for the long term.
volatility and price movement, page-7
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Last
85.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $193.8M | |||
| Open | High | Low | Value | Volume |
| 85.5¢ | 85.5¢ | 84.3¢ | $10.24K | 12.06K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 3109 | 85.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 88.0¢ | 20000 | 1 |
View Market Depth
| Last trade - 11.59am 12/08/2024 (20 minute delay) ? |
| NDO (ASX) Chart |