UPDATE (1) – Another half mill shares traded right off the bat… The stock is sitting right on the resistance line at 10p. Below is a chart that shows no real resistance until the 20p level – which interestingly is just around the 1/3 fibonacci retracement level. An RNS looks ever more likely, certainly if the stock pushes on as the LSE will force a ‘Response re Price Movement’ statement.
Worldlink shares continued to press on today, in fact top of the leaderboard with a rise towards the 10p level as speculators continued to pay heed of “well placed sources” that say a major announcement is imminent – the rumoured settlement in the litigation with City Index could be the answer and would likely have a materially positive impact on the Company’s balance sheet and prospects going forward if this is the case.
We also understand the market to be net short of stock in WGP at present and so a break of 10p could run these on quickly as momentum begets speculation which in turn begets further momentum…
Either way, the chart below tells a story… Remember, where volume goes, typically so does price and the 2 volume spikes (circled) are giving out pungent smoke signals at this point.