RE: RBD a buying opportunity10 Feb 2020 13:57
Tell you what I think,
1) It is relatively boring price action.
2) We know that Ruffer LLP was and possibly are still buying (2% to 6% at just above this level)
3) We know we are moving at a faster rate towards news but not quite there yet.
It is a mirror image of the action we have seen previously only once again, emotion is making judgement cloudy. So this is what I think is happening.
We are in an area of accumulation, the smart money is buying, only they can not just buy outright without pushing the price straight up. Instead, they buy without alerting the public, slowly and sideways, They are in a sense hiding their actions, buying, shaking, leaving the price alone for a day or two then resuming the action but most definitely manipulating retail and the price sideways to fill their orders.
The end result is when the next stage occurs, the breakout or mark up, they will be there loaded and ready already in, whilst most of retail are flapping around trying to buy as many on the news shares as they can.