RE: Heights not selling?2 May 2025 10:32
Chief, I don't follow volume so I can't offer much insight.
I take the point that around this time normally you would expect more. So I guess either they are not selling right now, or its being done behind the scenes and we are not seeing what is being transacted (dark web and all that), or got completed earlier?
To me its more key where the SP is and currently although hovering around support line, it nevertheless is in bearish territory.
The short term chart is still in down trend with the recent 31p close being a new low. The low volume can indicate 2 things: One there is simply no particular appetite to buy or sell. Or buyers/sellers are waiting for news.
The chart always reflects and projects whats going on from a news pov, so the market is not sure what to do, either break up or break down. its been in a trading range of 31p-43p for nearly 3 months but unfortunately it has in that time produced lower lows and lower highs. So its up to the bulls to take this up.
BG selling must have been a blow to sentiment as II's are thin on the ground as it is. Until new news gives this impetus its difficult to see much reason for gains from here (famous last words), which suggests it would not take much selling to take this lower.
So the stalemate right now looks like those that wanted to sell, have, and those who want to buy will wait for a clearer picture going forward and therefore it looks like all parties will now wait for the results to get a clearer picture of the financials going forward.