Why so much negativity? The company has never been in a better position!!!
The recent very high turnover , trading in a narrow range, clearly shows someone wants a lot and is prepared to suppress the price to do so, Brokers do this all the time to accumulate a significant holding in a company they believe is way undervalued for several reasons
- To broadcast to their clients (when they have their fill) this is a strong buy (I suspect PLS is a recent example) and they unload at a huge profit to them
- If they believe a takeover is in the wind or a possibility of such and they stand to profit.
- Or buying for a mystery client who wants to remain anonymous (but with an agenda!)
It costs Brokers nothing to buy and sell to themselves (with the purpose of suppressing price) to eventually weed out nervous retail holders. I suspect Euroz/Hartleys in this instance. Anyone who entered this expecting a quick profit are their targets! These targets will sell at a loss willingly to get their money working more short term profitably in another target. Recently there are many such targets.
When the “Accumulators” have their fill, revaluation is quick and in our case potentially very profitable.
This is how you get cycles in trading patterns (shorting is a great technique they use to achieve their ideals). The only way to beat them is through patience (provided you have the confidence!). You have to know when to buy and when to sell.
A good indicator is trading volume (daily and weekly). As a general rule you buy stock when volumes are unusually high and prices are at a low point. You sell when prices have risen to a level where serious selling takes over and re enter when prices have fallen and stabilised and volumes increase.
So my message (AIMOO)……. patience and confidence and wait for the excitement to come to us …….AND IT WILL!!
However they are in control of the timing! Remember someone is accumulating within the range of 14c to 16.5c but to make a profit!!. A breakout below 14c could see it drop to 12.5c (unlikely?) A breakout above 16.5c should see it rise to 22c and beyond rapidly.
Good luck with your patience!! This is a great opportunity to buy more (I have brought my average down to 24c doing just this)
(20min delay)