SMM 0.00% 18.0¢ summit resources limited

forced sell down?

  1. 3,262 Posts.
    Gday, has had a good run over last week (last 2 days in particular). Just got sold down to 30 cents, but now sellers are dissappearing again.

    Can be one of 2 things either a forced selldown to get others to sell down and they pick up more shares or selldown remove sell orders entice new buyers and selldown to them some more.

    Given the fact it has risen sharply over last 2 days a pull back was on the cards and being on low volume is no great concern and i believe those selling are trying to pick up more stock at lower prices.

    Has closed the gap at 31-32.5 as well now so expect it to hang around here then hopefully move forward again.
 
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