Yep, not to forget that there is the buyback commencing on 12 March which will put a floor under things. The risk is if the fund that is buying is doing so for the divi - in which the week following the ex div date (5 March) will be potentially painful. Looking further into the trading patterns, it has alternated between a small move (0.5-2.5c) and a large move (7.5-10c) since the results were announced. If the pattern holds, today is a small move day, with Friday due for a larger run at it. I'm not normally one for looking at trading patterns, but it is clear in this instance that there are very limited small players buying and selling - and that the rise can be largely attributed to a fund (likely PPT) playing the trading game.
Would not be at all surprised to see us finish between 1.825 (in line with previous small moves) or at 1.84 (in line with the recent intra day trading patterns) today; with a bigger move into the 1.90 region tomorrow (as a result of the pattern extending.
EPW Price at posting:
$1.83 Sentiment: Buy Disclosure: Held