It could be that they were forced to sell due to margin calls. The action today shows AC8 quite resilient and the whole market was resilient. While I cannot rule out more down side for AC8, I feel that AC8 may get another 15%-20% on the upside before it is vulnerable to selling pressure again. This market is going to be very volatile as we are so tied to China and US trade tension. I am sure many also want to sell to lock in some profit and buy back later. The company confirmed that they are on track. But looking at how slow things are with this company, we may have to way until near the end of 1st half to have enough good news to put this one on real up trend. The way the US is heading seems to guarantee that every 3 months, some one will drop a bomb on the global share market and cause a massive wave of selling.
AC8 Price at posting:
61.5¢ Sentiment: Buy Disclosure: Held
