RE: Up down9 Nov 2021 17:31
My take on the share price.
Volume squeeze momentum suggests more buying pressure now, due to higher traded volume above the current price than below the current price since IPO.
Since the IPO there have been around 286m shares traded.
- Volume between 307p (low) and today's price, around 110m.
- Volume traded above todays price around 146m.
- Volume traded around this price around 30m shares.
E.g.
When DARK launched it traded 96m shares between 310p to 772p between launch and 2nd August.
Then the price dropped to 608p and rose back up to 744 and dropped to 630, and 40m shares were traded. So between the first period and second period, there would have been a load of early buyers selling, taking profits, with new traders going in at a higher price. Those new buyers wont want to sell at a lower price/loss. So that takes some risk out of the market of the price dropping lower. Then 16th September to today there have been another 120m shares traded above 650p volume. This would have squeeze out some more of the original shares bought below 600, with new buyers going in above 600.
Therefore, the likelihood of many original buyers which bought below 600 wanting to sell now is relatively low.
But I think there could be some bouncing between 580 and 650 for a very short period, prior to a break out above 650 to at least 700 in the near term.
Major pre-IPO investor already sold IPO lock up stocks.
FUD of Peel Hunt now being exposed and challenged.
Unless the fundamentals of the company are seriously challenged again, volume trading / psychology of trading suggests we should see upward momentum now.
I know I've not explained this very well, so if someone else can help or challenge my ideas, please do.
Cheers
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