Around 500,000 shares from AU79-81.5c. Surely can only expect fireworks tomorrow?
Disc: built a swing position to the long term hold over the last two days.
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And up she goes... Daily bull flag confirmation (ignoring the 300 shares traded at 87c) with ASX close at 84.5c. That's an equivalent of NZ88.4c. Strong buy volume is sustained - looks institutional.
NZX has been very illiquid, but does provide a good opportunity to get entries below the ASX going rate at low volumes.
I suspect the board are being very conservative around cash management right now, however it would be perfect timing to announce an acquisition of new Aussie centres (as previously flagged) to really move the price along.
? Trading volume $1.2m today????
Interesting...
88.72 1,326,589 16:41 SP
1.22% of the total float traded today, on strongly increasing prices. Very bullish. An easy 10% trade this week for those who paid attention (although low volumes).
I believe that large crossing on the NZX is a different buyer than that on the ASX. What makes me think this is that shares are often sold on the NZX Ask below the going ASX price. If they could buy on NZX they would surely be purchasing these. So if there are at least two parties wanting to accumulate that will provide ongoing strength to price.
Technicals and fundamentals are hand in hand here.
Looks like Childcare players are all on the prowl for more acquisitions as the industry consolidates ahead of the full opening of economies in 2022 :
https://thesector.com.au/2021/10/29/...ius-childcare/
Mayfield Childcare is raising $8 million to fund a $39.2 million acquisition of 14 centres from Genius Education Holdings.
Will Evolve continue with its acquisition strategy or deal itself into a merger or sale to a player like Busy Bees? interesting times ahead!