I wasn't surprised with the profit taking. TRH has nearly doubled in SP in 24hrs.Too much on the table for some to not realise some profits.Those establishing positions yesterday and today most probably for short or medium gains have bought at relatively much higher levels due to the sharp rise and we should see the sellers hopefully dry up again for more ST gains, also given the low comparative MC to peers based on fundamentals. Today's games were not fundamentally based, imo, just natural business decisions and should hopefully not alter the re-rate.
IMO, i will be looking for strong volume or we may see some nervous nellies start to sell again. Volume and buyers interest will be the key and hopefully we can see another announcement or two to keep the interest.
All been good for TRH though generating huge interest.The amount of shares passed hands relative to total shares is very significant. Hopefully we can hold tight and help get the MC closer to it's peers.
TRH Price at posting:
72.5¢ Sentiment: Buy Disclosure: Held
