The big question I have is whether Ausdrill is selling some of their shares. That would not be a good sign although there could be some in-house corporate need to do so that would negate my concerns in this regard.
If not Ausdrill selling off, then the price and volume action after taking into account the camel puke of the recent market correction indicates all the signs of absorption and thus a re-accumulation cycle. That would be a good thing!
If my TA is correct then the 50c level was the major pivot point and a god's gift for more accumulation...... which I didn't look the gift horse in the mouth haha. I just hope it isn't a trojan horse.
Cheers
