Trading Analysis - 15th Nov 2018


15 November 2018

End of Day   

Thankfully quieter today, but still over 400 trades to wade through. Despite the number of trades being half of that the previous day the total volume was only 6.3M as compared with 17.3M earlier.

The expanded charts are shown below.

There weren't many large trades today - in fact the largest was the 209,063 Sell just after 8:30am - probably a stop loss triggered by the tree shake down to sub 45p (50p-10%). There was no evidence of any of the 200K, 250K or 300K delayed Sells that had been observed in the previous 2 days. During the course of the day there were only 2x 100K Sells , as compared with 17 in the previous day.

As usual at the end of the day Buys outnumbered sells by at least 600,000 so we wait to see where these shares are going to come from to fill such a hole.

In a day when many other small mining shares were getting hit hard by UK political issues (Asiamet Resources -5.8%, African Battery Metals -7%) it seems that BMN and a number of the other larger miners actually fared rather well (Evraz +5.2%, Randgold Resource +4.8%) - it could well be that BMN is now starting to be seen as something of a hedge against a weakening pound.

This article only conveys the personal opinion of the author. Whilst every effort is made to ensure the content is accurate, we cannot guarantee the accuracy of the data shown. This article does not constitute professional, financial or investment advice and must not be used as a basis for making investment decisions.

Site content is not authorised by the FCA and you are not safeguarded by the Investor Protection measures of the Financial Services and Markets Act 2000. See our full disclaimer