Hello everybody ....
The price was down to $2.32 this morning.
Is this because the market hates uncertainty (ie Gascoyne is currently very uncertain ) or
loves it?
Today’s fall seems a logical follow on from yesterday when, after recent volume+price excitement, things were a bit quiet. There were just over a million shares traded yesterday on ASX and 870,428 on CHI-X - bolstered by the already mentioned half million shares off market there at 10.54am for $2.485.
Here’s the image of that big CHI-X trade again :
View attachment 1483813
To me this means someone felt the chance to spend one and a quarter million dollars at $2.48 was a great opportunity .
Which means today they and all the other bargain hunters are out hunting?
TECHNICALLY SPEAKING :
According to Saragian we reached the $2.53 “maybe it’s time to drop your load’ level (I think this is tech speak?) several days ago. He promptly ‘went fishing’ so maybe the prices we are currently seeing have nothing to do with Gascoyne but are just normal ‘cha cha chart ’?
If so, the timing is curiously synchronistic.
Possibly a good chart, like a crystal ball reveals all?
I have no crystal ball ...just a compulsive interest in the tides of NRW , but in the absence of anything more insightful, here is a candlestick chart in which it can be seen (even by those who do not understand the mysteries ) that the last five days shows volume up and volume down along with a pinnacular level apparently being tested.
View attachment 1483839
So I bought some more at $2.35 to trade
I read the current story as evidencing continued accumulation by an entity (the Very Hungry Buyer) that wants more shares at lowest prices.
From looking at its recent purchases, it seems it will buy regardless of price because every day is closer to the day NRW moves to the next level.
Unsurprisingly the VHB appeared on cue yesterday after close for it’s after market snack.
This time it only bought 11,861 shares at the day’s average of $2.4538 rather than closing price of $2.41 .
A curious and surely almost unnecessary purchase ?
I am not sure why it even bothered as I feel sure it was expecting the price to go lower today - as it has .
For the record here’s the trade:
View attachment 1483851
So far there is no news from Gascoyne .
Cheers
(20min delay)
