Let's wait and see. I will provide a charting update tomorrow. XF1 is now above the 50 day moving average and this will provide a strong support level for the share price moving forward. I think that Aus Super and FIL might now be out completely, which would be massive news and allow the share price to move freely higher now.
We saw huge volume across the past 3 days and the share price would have traveled even further if it wasn't for some selling pressure, which is likely to have come from the remaining stale Aus Super or FIL holdings. We saw 7m units traded in the last 3 days. That is enough to have largely flushed them out.
I've done a bit of digging around. The legendary Phil Matthews is rumored to have taken up a stake in XF1 and he was asking questions on the last quarterly conference call. The elusive Mr Mathews is the founder and managing director of Sydney-based Mathews Capital. He also made the BRW Rich List in 2011 with an estimated wealth of $770 million and was named the best performing hedge fund manager in the world at one point.
He has a habit of picking big winners.
This is his home in Mosman:
T.E.P.
XF1 Price at posting:
19.0¢ Sentiment: Buy Disclosure: Held
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