what is going on here then...

Interesting price action this week.

Maybe the ANZ holding in the mix. A casual sell down when liquidity permits?

Whoever the seller, liquidity has returned since the 2/11 profit upgrade.

My guess is that a stake is being built, and not by a retailer.. just a hunch.

ISS are in a very strong position to capitalise on the return of $$ to the oil and gas industry... and grow beyond the sector.

The lumpy nature of the returning cashflow and recent streamlining due to the GFC might see a very healthy Annual Report in 6 months, making the stock look cheap as chips at current market cap..

ANZ should be getting close to 5% if they are the seller, maybe another 700k shares?

So lets see if a stake is being built. Watch for continued increased volume, large cross trades, change of sub holder notices and changes in top20.

I suspect ISS will be capped around $50M sometime before the annual report in 6 months. With a $5M+ net profit, more then $12M cash and strong outlook.

History shows the move up will be swift and can come with little warning. One must sit and wait and believe.