Hi bigchops.. cool name by the way. There are plenty of reasons...

Hi bigchops.. cool name by the way.

There are plenty of reasons for churning and in reality it is very easy to do, especially if there is a syndicate (and I am not implying that) of some sort participating. It helps to keep the volume up and interest in the share( ie sentiment)a little more upbeat.

The correct definition is below. It’s otherwise known as wash trading.

“”A wash trade is a trade in which there is no change in the beneficial ownership of the securities - the buyer is either also the seller or is associated with the seller. A pre-arranged trade involves two parties trading on the basis that the transaction will be reversed later, or under an arrangement that removes the risk of ownership from the buyer. "Pooling or churning" can involve wash sales or pre-arranged trades executed in order to give an impression of active trading, and therefore investor interest in the stock.””

http://www.asx.com.au/supervision/participants/market_manipulation.htm


In fairness I have held this stock for only a short time and I do not have the same fundamental knowledge as some others on this thread do so I won't comment there as I enjoy reading the posts of some who really seem to know their stuff here. Helped me make my decision to buy so thanks.



Mixed signals on the chart with the slow stochastic turning up from the top of oversold zone but recent trend lines and support lines breached with a bearish candle pattern emerging.

The hammer candle on Tuesday indicating an end to a declining price trend was bullish but did not play out. Too many sellers around? The bottom trend line and 200 day moving average are a worry imo & look like possible targets?

The resistance line at .41c is causing problems atm.

Good luck all