Hi Fish
This is not strange behaviour....it's classic human behaviour. A group of investors (maybe small) are sensing, rightly or wrongly, that a bottom is somewhere close...they want to buy into CEN and they think they have plenty of time if they do it early...and they also think the price could go lower thereby they are accumulating slowly... so the last thing they want to do is jump in and outstrip supply at that price and push up the price while still accumulating....This group of individuals are also willing to temporary halt their buying if they see a bad day and allow the stock to fall then re-enter with their slow buying strategy again.....This doesn't necessarily raise their brokerage costs...as the investor can go online and readjusts the buy price/volume amount with the remaining order....A good tactic for the accumulator is to look at the share depth and if there are enough shares at a certain price to satisfy the accumulator for the meantime they (accumulator) buy up all those shares except one. Why?...because most people go on-line and don't use depth therefore they see that the share price /buy price/sell price has not changed..therefore they are unaware of whats happened and this minimizes the buy pressure signal.
Fish I'm a little surprised this has happened with CEN usually it happens with an illiquid stock that has big gaps within the sell prices.
Fish..I know you are not a TA fan but the short term CEN Chart has picked this activity up. My previous chart
post#361 29th January is very long term and doesn't reflect CEN's short term behaviour so a shorter term chart (below) has picked up this behaviour.... The accumulation/distrubution indicators are showing slight divergence to the shareprice indicating that here isn't a huge number of investors or any big players doing it....Although this slight divergence is deemed slightly bullish it is best to be cautious as other TA indicators have not followed yet (not shown on chart)..
A buy signal for a stock need more than one indicator (or indicator group) firing off.....The OBV indicator is a good stock indicator (Phaedrus's favourite) it shows the flow of "smart" money.
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