XAO Indicator

This blog is intended to be read in conjunction with the XAO Indicator which can be found at http://www.asxindicator.blogspot.com/.

I am not a financial adviser so you should not take any part of this blog as being financial advice. Observing and interpreting charts is a hobby and so is this blog. The information in this blog is just my opinion, it may not reflect reality. Stock market investing is risky - you can lose all, or potentially more than all of your money given certain market conditions. Not only can lose a lot of money buying shares, you can also lose a lot of potential profits by selling shares at the wrong time. So please do not buy or sell shares because of information in this blog. Whether you buy or sell shares is your decision as is the decision when to buy and sell. Do not risk any money you cannot afford to lose. Do not risk any money if you do not fully know and understand what you are doing.

Wednesday, March 2, 2011

So how do you explain this?

So this is what's happened in the past 24 hours. First, about 4 million shares change hands in the last half hour of trading yesterday (1 March) (see chart below). The price spikes over 10% in that short time - and over 20% from the day's opening trade. There is no news. The next morning (today 2 March) the price jumps over 20% again in the first 5 minutes. Again there's no news. Then at around mid-day today we get a trading halt. A few hours later we get the news - that yesterday's price and volume spike on the close of trading happened about half an hour before the company received news that an important market sensitive contract had been signed in Indonesia. Hmmm. Here's the intraday chart. The circle around the volume is mine. If you want to watch the price action this morning click this link.




Click chart to enlarge
Posted by

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)