Yet another record volume this morning (15min/30min/hour) - strongest start so far this week [am I starting to sound like a broken record!].
But the question still remains - where have all the shares gone! Vacuumed up it would seem! Still limited evidence of recycling back on the market so far today. Most of the traders from the start of the week (posting here) have pulled up stumps!
As most long-term holders would agree, the current share price is still regarded as cheap and trading at a discount to the assets and 'measured' resources.
With record volumes of ~43m (8.5% of issued shares) traded Monday, ~108m (21.3%) Tuesday, 68m Wednesday and ~33.5m (6.6%) so far on Thursday [Total: ~252m shares or 50% of issued shares], it stills seem as if the market is not done yet!
VWAP so far today $0.126387 (Source: bell direct) which is above yesterday's high.
The VWAP at the same time yesterday was $0.094984 (Source: bell direct). So in my mind the buying pressure is still building!
Noted two orders for 2.5m first thing this morning at 12 and 13 cents. I thought these might have been a road block. But someone just came in and wiped them out (average buy-in 12.5cents now below today's VWAP).
Volume and share price both still building. Positive in my eyes.
Gus
PLA Price at posting:
13.5¢ Sentiment: Buy Disclosure: Held