Daniel Stewart shares in demand?

It is clear that Daniel Stewart stock is in short supply and Market Makers have been using their skills to relieve investors of their shares.

They have moved the price down, but this does not seem to have had the desired effect as investors have held onto their stock.

Yesterday (8th June) it was difficult to buy large blocks of shares as Market Makers not providing quotes. We then had a small increase in demand and this resulted in the resistance line highlighted on the following chart being broken.

image

A bullish engulfing pattern also emerged yesterday and this with a strong support line is also a positive indicator for the share price.

Today the 9th June is going to be interesting.

The Market Makers will probably have to let the share price move up to encourage sellers.  The issue is many investors will be holding for at least 4.5p as this is the target price set by Rob Terry of Quob Park Estates.

Whilst some shareholders will potentially start taking some profits at the 3p level many will hold.

The indicators are the share price, will, in the very near future, have to move North to find some sort of equilibrium between sellers and buyers.

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