Management also bought in a large volume along with a couple of Instos in Sept 2021. On positive news. Resulting in a short lived spike in SP followed by a long downtrend. $80k is a relatively small amount for traders who started cashing out profits yesterday. Takes a while for profit take to filter through. Especially when an SP goes from a low level to over 100% gains in a few days. Will need to persevere through profits being sold off, as a result SP experiences sell down pressure. Which is actually good for long term holders as if we see a low end trough form after the traders cash out profits on this one. Then SP can stabilise and actually follow results next year. ie once the swing centres and can then gradually build off (not spike off). This is exactly why we saw the 15% decline from yesterdays peak. Over 100% gains were never going to be sustainable, especially third day of run.
Bids lost momentum within 20 min after opening, not a positive sign for any substance for daily upward pressure. Downside risk much greater than any further upside potential today. RSI far too high, mom -ve, oscillators still indicating downside risk from the rapid extension of SP. Still needs to recalibrate.