Apart from the 89k selling at $1.46.
More like definite lack of buyers today. 5k @ $1.43 currently.
With respect moosie, the facts are completely opposite to what you are describing.
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Well, if thats the case moosie, then the new crime detection software WYN have just installed at NZX will pick the manipulation up....no trouble
:p
Triggering stop losses is not actively suppressing the price IMO--Its simply an exit strategy for better or worse--those stop losses have prevented some later gains ,but they have saved some as--- as well.
This is still a speculative share--Thats why its fun(usually) You wont find this many posts on blue chip divi shares
My bid sat at $1.32c and didn't get hit...but close (dipped to 1.35). I've dropped it into a holding pattern in the mid $1.20's where there has been some solid support a few times before.
For the sp to drop through $1.37, I would say it will now take a major correction to the US Equity markets (80% probable this month IMO) or a disappointing PEB announcement (much less likely, although lack of NZ DHB take-up is not good). It was taken that low to cross two very large orders yesterday.
Resistance at $1.50 confirmed this morning. I'm staying out for now.
I don't have live feed and depth but I get the feeling that the seller might be just putting a few out there to keep a lid on the price whilst his broker looks for another million or so deal at $1.37.If you had to be a buyer I would say there is a fifty fifty chance at $1.38......
Interesting to see where the ends, if the speculation of nzx becomes reality and if it has any effect on the sp.
It looks like the same seller who started selling into good news a few weeks ago is still going.
Yawn.
Wait I thought this was a sure thing. Isnt it supposed to go up forever on no sales?
Number 9 on Sparky's list of 20 lessons:
"9. When others are screaming in pain and fear and you can’t understand why a share has gone down by that much, that’s your opportunity to buy. Look for three days of selling, then BUY"
Today is day 3, no?