Normal
GPT looks like it has been in freefall for several weeks before appearing to find buyers at the support line of $3.72 approximately 2 weeks ago. Bouncing back up to $3.77 GPT then suffered a set back as sellers came out of the woodwork and pushed the share price down to close at $3.65 on Thursday 28-3-13. The indicative opening price for GPT of $3.63 on Tuesday 2-4-13 didn't look good, suggesting that GPT was going to continue the fall. Then right on open the match price jumped back to $3.66 and GPT literaly took off. The high through the week was $3.89. Unfortunately only a few hundred shares were purchased at this level before the share price faded to finish the week on $3.85.[ATTACH]51666[/ATTACH]There haven't been any announcements regarding acquisitions/mergers (alz), property acquisitions or disposals and/or property revaluations. If anything the sell down has run contrary to most of the other A-REIT's that have tracked sideways and upward during this period. Even more oddly, retail is supposed to be showing signs of recovery along with housing. You would almost expect GPT to be marching onward and upward. I'm sure it isn't "churning" by the fund managers but I can't think of any rational explanation other than maybe some portfolio reweighting and profit taking? As always do your own research and good luck .
GPT looks like it has been in freefall for several weeks before appearing to find buyers at the support line of $3.72 approximately 2 weeks ago. Bouncing back up to $3.77 GPT then suffered a set back as sellers came out of the woodwork and pushed the share price down to close at $3.65 on Thursday 28-3-13. The indicative opening price for GPT of $3.63 on Tuesday 2-4-13 didn't look good, suggesting that GPT was going to continue the fall. Then right on open the match price jumped back to $3.66 and GPT literaly took off. The high through the week was $3.89. Unfortunately only a few hundred shares were purchased at this level before the share price faded to finish the week on $3.85.
[ATTACH]51666[/ATTACH]
There haven't been any announcements regarding acquisitions/mergers (alz), property acquisitions or disposals and/or property revaluations. If anything the sell down has run contrary to most of the other A-REIT's that have tracked sideways and upward during this period. Even more oddly, retail is supposed to be showing signs of recovery along with housing. You would almost expect GPT to be marching onward and upward. I'm sure it isn't "churning" by the fund managers but I can't think of any rational explanation other than maybe some portfolio reweighting and profit taking? As always do your own research and good luck .
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