Wyckoff trading method, page-1566

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Jako8557

16,642 Posts.

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18/03/17

15:19

Post #: 23453268
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Originally posted by Beany72 ↑

I'm not sure where the supply has come from. I think it might relate to Merrill Lynch but I don't understand the announcements and what borrowing stock means? Notice of ceasing to be a substantial holder on the 9/02/2017 and the corresponding Notice of initial substantial holder on the 22/09/2016. There was ~7.7m shares with ~0.9m being sold in 7/02/2017. So I think maybe ~6.8m shares may be offloaded from them which may have started from 8/02/2017. I have no confidence in my thoughts though as I really don't understand the announcement. I hadn't managed to find someone to provide trade data to see if it was coming from one particular broker.

Other things to maybe note:
Ex dividended on the 15/03 with 1.5c full franked dividend. (and to my amazement stock even went up.....)
It will also be added to the All Ordinaries Index on the 20th March.
Apparently Bell Potter issued a buy on 16/03 according to HotCopper Forum.

Jako, it honestly feels like I would be making an entry at the bottom of a steep hill. I do now see what you mean by the shakeout bar still being a strong bar with the aftermath trading. It has at least made a higher high and higher low. I see the recommended stop at 78.5c but can't see a clearly defined entry point. Considering 80.5 being the low of the upthrusty bar and the close of the last bar?

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OK, I'll have a look, just been out for a bit

Borrowing stock usually refers to borrowing stock to short it (for whatever reason).
However, I have not seen almost any reported shorting of RXP (just a few tiny positions, this year and last).

cheers
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Wyckoff trading method, page-1566

Top Stories

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MinRes's Ellison knows he screwed up – for that reason, hunt for new Chair to be sped up

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