Regarding your statement:
"This share is fairly tightly held by the top 20". The Top 11 shareholders own 50% of the Company (Source Ann Report 2018) & they don't sell. Their holdings increase if anything from year to year.
So (as you say) any Strong Buying trend pushes the price up very quickly as there is very little Supply. Hit 29c around this time last year (April).
Short Term Trading Week Starting: 11 Mar, page-82
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Last
8,567.0 |
Change
-12.100(0.14%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,579.1 | 8,614.8 | 8,549.8 |
| XAO (ASX) Chart |
