well the dynamics certainly changed this morning from a bullish opening and first 30 mins....but then back to the same old pushing the ABS share price down.
Even I was optimistic this morning...still no way I would buy...but it looked as though the buyes had a bit more control.
That quickly turned.
I am starting to think we have a BNB situation and that shorters are aiming for a certain level.
I have decided to give the buy side market depth little notice in terms of support as out of nowhere, some dumps take out a line or two.
Good one to watch for a definite turn around if its going to happen but looking at the trading patter over the last 10 days....it looks like its going to test 60 cents shortly imo.
I have an interest in this as ABS, CNP, MFS/OCV, CER, AFG, CIY....all these guys got caught with their pants down and are just baffled at the market wiping billions off their value.
Its probably a solid cleansing of the financial market going mad and being too bullish for too long.
ABS Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
