EXS 0.00% 26.0¢ exco resources limited

looking to close at all time closing high, page-19

  1. 16,642 Posts.
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    hi lionel,

    I've been away for a few days, saw your message late last night, when I got back.

    Yes it is nice to see some movement in the shareprice.

    From a VSA perspective (ignoring the massive volume from Rob Millner, which you're not meant to do), it looks like we are absorbing supply from the left.

    You would expect, again from a VSA prespective, there are trapped holders, who bought on announcement at higher prices and have been waiting for the shareprice to get back to a level where they can exit at breakeven or with a slight profit.

    This supply may be present all the way to the top of the announcement bar on the 20th April where the high was $0.77, once we clear that high of 77cents, we would potentially leave all that supply behind.

    I'll post a chart sometime, just doing a catchup on what's been going on in the markets.

    cheers





 
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