CZL 0.00% 4.8¢ consolidated zinc limited

CZL - charts, timing, just bought., page-22

  1. 672 Posts.
    So I watched the close today (pre CSPA 4pm-4.10pm), saw some buyers bidding into offers 46, 47, but someone out there kept reacting to it, trying to sell just enough to eat into the bid at 45 and close there. And it did close at 45. By a single share! Good price for the buyers I say!

    But my point is, this feels like price capping behaviour, trying to create that ceiling and give CZL a weak looking close by selling the very minimum amount of shares. My guess, hoping to generate a negative view and induce more loose holders to sell in the coming days.

    At the start of the day, I was questioning the likelihood of bids 43-44 being spoofing orders, and still do somewhat.
    However, the close action today reeks of an attempt to accumulate at lower prices, a positive sign.

    If zinc continues its rally, CZL starts to generate more interest and picks up a bit of steam, this unknown party accumulating will at some point realise that battle is lost and it's time to hit the market before the SP runs away...pushing it even further up...
 
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