Well fellow Vectorians!
Not too shabby a day, good churn between 2.5-3.1 with a VWAP of 2.8 cents. I would imagine a lot of stale holders took the opportunity to try their luck elsewhere today.
A total of A$1.8mill went through the till. What I found most encouraging is that the bulk of the volume went through within the first 3hrs of trade. After that the sellers really dried up. Pipped down on the bell into 2.5. Which is bang on support, would have liked to see it finish higher as everyone would have. But taking some positives out of today’s action, that is for sure. Obvious capping going on, I believe to be more then more then one entity. Early on in trade I notice the more which was being bought up, the more that was being stacked on the sell side.
I believe a few entities gathering together a bit of a war chest in which will allow them to get their fill within the range they see fit. Why accumulate at 3-5 cents when you can throw up a few road blocks and flush the sellers out in the 2 cent range.
I wouldn’t mind another day of churning tomorrow to ensure those weak holders are able to exit before the real rerate begins.
To be honest the sell volume really caught me off guard, but I’m happy with the 25% increase.
Remember wealth is not created over night, but something generated in good time.
I believe Vector is still lining up at the starting line, waiting for the gun to go off. Simple supply demand, if there are no sellers, we move up, if there are some retail biting at the bit to exit, we may see some more churn around current levels.
All in all a very positive start to 2019. Bring on that back log of news.
AIMO DYOR
VEC Price at posting:
2.5¢ Sentiment: Buy Disclosure: Held
