Thank you for putting across this write up. I’m sure this clears the confusion for a lot of investors.
Few reasons to think this maybe a ‘parked’ article and a classic case of shakeout are:
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29th Feb article released, 5th march still no official announcement
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bigger hands will only accumulate while and after shaking out weak hands and at DDs. this gives them liquidity for bigger buy quantities without raising the share price.
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Price action shows a correction to 845-850 levels is pending, which might happen now. That would be an ~ 30-35% DD from the highs – A place when bigger hands, funds etc would want to keep accumulating – on the way down with panic selling and increased liquidty.
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Image below clearly shows:
- 29th Feb article release date: 64% deliveries, no price reaction
- 1st march Friday: 50% deliveries, stock up 5%, pulling more weaker hands in at the top
*2nd Mar Saturday: 70% deliveries, low volumes
*4th Mar Monday: 57% deliveries with big downside price action.
A big price fall with massive volumes with 57% deliveries doesn’t add up, clearly someone’s accumulating. Moving forward will be interesting to see delivery percentages.
Disc: could be completely wrong in my assessment. Biased and invested since 2018-19.
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