Watching the sales yesterday and today, I tend to feel it is being pushed lower, but not by a genuine seller, but an accumulator.
Look at the sell side today, only 1 big seller at the top of the line, making sure anyone who wants liquidity has to jump over them and hit the buy bids, which are weak based on no recent news.
Take away the one big seller (accumulator?) and it strikes me there aren't many shares available. If someone has a chew on the big sale order, I wouldn't be surprised if it was pulled.
Sometimes the best time to accumulate is when news is coming out, get in before it hits the market and then exit once released into the strength it creates.
You only have to read the last half-yearly to realize this business is being turned around and should have had a solid half. Solid director buying (multiple) in March would suggest that everything was on track.
If the results are positive and it hasn't leaked, they should give you even more confidence in management.
HIL Price at posting:
19.0¢ Sentiment: Buy Disclosure: Held
