It's possible some fund managers might be accumulating. A search...

It's possible some fund managers might be accumulating. A search of Twitter shows some people seeing a TA play in what has been happening with the SP of late (and might be the ones driving the SP at present).

Probably best not to second guess why fund managers are buying/selling as a cue for your own actions - each have their own investments styles .

Personally I think the current SP already factors in the likely improved performance to be seen in FY18 and is probably fair value. Buying at these levels or higher, with no news or updates from management, you are relying on your own forecast assumptions, outside of management presentations base case materials, coming off to make your investment case stack up and have little margin for safety.