Member Info for chasf

It's curious that the correction for a 30m trade at 0.551 at 15:55 (showing on this site) is not reflected in the data on the actual Exchange.

Apparently (from interview) things are moving well too in Ethiopia.

For instance if I were to enter an order on the bid at 0.598 or even 0.60 right now, the Exchange would match it with the current top-of-the-ask, do the trade and set the price to that.

A look at the RSI is revealing about what's happening (or not), but not why they're doing it.

SETS by contrast works through permanent electronic auction (the L2 book) where the orders in the book determine current bid and ask, VWAP forms a price in opening and closing auctions, and the MMs are off to the side, guided by the price range.

"so ondo is a SETSqx, so the difference?"

Yes. There are two variants of SETSqx, one with MMs doing their usual work but with periodic electronic auctions, and one with just the auctions, but it's most likely to be the former.

I am troubled by the 300-500k blocks clustered round 0.60 and the larger blocks at 0.65.

As several have observed, it might be resolved if some actual money arrives or at least complete binding agreements with all parties. They need it much higher to trigger the warrants and further finance. They and we really want that to avoid a placing at this ridiculous level.

As I said earlier, I don't like shares being controlled like this. It's another one that would for the moment be better managed with just MMs doing the work, even with their usual ploys. Still, once it's finally turned into a mid-tier producer I suppose being on SETS will work out.

I assume they're setting prices for O trades, perhaps trading the spread between 0.55 and 0.60, because relatively few orders are going through the book, now even fewer compared to relatively low volume in the book over the last few months. They seem keen on this particular price level, having forced it down from the spike up on the 30th June following the Umbrella RNS.

" (presume MM)" No, it's a SETS share and the MMs generally keep away from the top of bid and ask unless they need something. Someone else is doing it.

"and why?!"

a good question.

No, tbf it's trading a little higher within the spread

Probably about the same?

Indeed, these levels result from not responding to press reports in a timely way.

Perhaps, but expecting all those warrants to fund them as planned does require some attention to the share price, for the business.

They seem to appear mid-month

I'm afraid I don't really like shares acting this way. Sellers camped in the book at 2x1m volume 0.65-ish and one moves down if you experimentally place an order below them. They stopped moving down at 0.61 and I barely cancelled it in time before it was eaten!

Block on sales seems to have cleared as soon as someone hit the 0.588 on the bid, pulling the bid back down for MM quotes.

6m sold vs few bought but you'd have thought the MMs could absorb that much. Admittedly the L2 is loaded but dead (few trades through the book).

Same for AJ Bell. Hmm.

The actual spread is much smaller, but curiously IG currently rejects requests for quote to sell but can quote to buy at 0.60, which might suggest there's a large sell being worked?