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MrWisemanSays

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13/06/18

16:55

Post #: 33686992
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Originally posted by GunnerGecks ↑

Lower volume today then yesterday but it seems like its a case of accumulation at 1.1c.
My guess is its a large holder who would have an average price around the 0.005c mark partaking in some profit taking.
I believe this was mentioned in the T20 meeting that a large holder was selling large volumes.
The current trading over the last few months sees that this is potentially the case. The best time to do so is when there is good news so the price stays stable.
I was watching the trading yesterday and as soon as all shares at 1.1c sold another 2mill were placed in the bid at 1.1c and this process repeated several times until shares in bid grew and eventually matched the sell column. This is a typical signal of profit taking and then buying in at same price which is then at some stage followed by a significant buy to push price.
My guess is this will happen in the following month leading up to commisioning of the first two smelters. Very normal practice.
We could potentially see a nice push in price soon, depends on when these large holders/accumulators hit their trigger point.

I could be completely wrong but there are many signals which illustrate this.

What are your thoughts guys?

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I think trading pattern last few days and today could see SP touch 0.009 0.01 before it bouncing nicely off support.

GMC Price at posting: 1.1¢ Sentiment: Buy Disclosure: Held
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Smelters, page-13

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ACCC greenlights Sigma Healthcare, Chemist Warehouse merger

HotCopper users bullish on Spartan Resources' latest gold find right near Pepper deposit

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