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It's the same pattern over the last few days, lots of retail sized buys but resistance at the mid 15s. Each time the SP rises through that threshold it's met by large volume sells (non retail?). Someone has a very large tranche they are slowly offloading around the current SP. It will take more than retail investors to break through this resistance. It would be a very good sign if some non retail buys started showing as that would indicate that people in the know are getting involved.
The SP is showing resilience so far today and it's bouncing back quickly after any sells. There seems to be a significant sell order being processed as every time the share hits the mid 15 mark there is always a sizable sell quantity waiting. Hopefully once this clears the SP will resume the up trend.
The rise in SP over the last few weeks has largely been due to retail punters buying in. There has been no real selling pressure against those buys so the SP kept going up. This pattern continued today with primarily small buys but then around 2pm the large sell volumes kicked in, hence the rapid drop in SP
About 1M shares were sold in 5 minutes between 3.14 and 3.19. This would seem to imply a single seller as it's unlikely these large sells would have just coincidently occurred at the same time. Looks like someone wanted out for whatever reason. Lot's of small punters buying in since that drop!
Keep an eye on the volumes traded. If the volume starts to ramp up significantly that's when to get excited. Usually it's volume, then price, then news. PRD seems to be moving on price now but if this starts to get backed up by large volumes then its showtime.
Looks like over 7M shares traded so far today which is a bit higher than average. The old adage about volume, price and news is always worth remembering. Were any news to leak you can be sure that the daily volume would rapidly increase to multiples of the current volume.
I agree that PRD looks good and hold some, although it's being massively pumped on the message boards currently which is always a concern. Some wildly speculative calculations are being thrown around based on simplistic assumptions. The upcoming flow testing is critical and that will make or break PRD.
Interesting that the market at this stage does not seem to have any knowledge good or bad. The trade volumes and price movements are fairly stable. I'm sure some people definitely know where things are at but they're doing a good job keeping a lid on it.
A total farce, from start to finish
It's unbelievable that a local authority pension fund holds 8% of this company. No pension fund with even a modicum of oversight would be allowed to go anywhere near a wildly speculative penny stock like BEY.