price action Yesterday we saw an interesting price action through the day. The WDO stock briefly dipped with 22k traded at 0.52 but then got a good bid appeared with prices marching gradually higher to the high fifties. At the end of the session, a 100k buyer at 0.58 emerged but he did not get his amount done. A good 108k shares were traded at the offer in the 0.59/0.61 region (buyer).
Where we had a persistent aggressive seller in the previous weeks pushing prices to historic lows on Friday, it seems that this institutional seller got his full amount done at 0.50. At current price level and valuation and with this seller gone, I would expect buyers to turn up and close the gap at 72c.
Longer term this stock should be good for more. Current operations are profitable, good for growth in ounces and improving gradings.
We all should be thanking that institutional seller, he gave us very good opportunities to add or to get long!
Trappist