RE: Technicals10 May 2025 16:37
Pump and dump is suspected when a huge volume of share trading happens which is say 5 to 6 times daily volume and there is no trigger as to why it occurred. Pensana on Friday was not oversold, no RNS, no company presentation, no external publication from other sources or broker recommendation, no stimulus from the commodity and no response arising in the sector of other companies in its peer group. A pump is suspected when in the first 30 minutes of trading has accelerated the daily gains to be in the top two performers in the stock market without any RNS and the gain is very significant. Pensana was the second highest stock across all UK equities early Friday morning and this stimulated traders jumping in on the bandwagon. Hence the suggestion of why I thought it looks like a pump. The dump is when existing holders sell along with the original buyers. It does not not have to be dumped on the day of a pump. Anyway let us see if we get an RNS on Monday. Traders incidentally who pump and dump are what gives other stock traders who do not behave in that way a bad name. Hence why I do not like it.