Did someone say KFC??

There was a similar, but less prounounced volume spike on 15 Mar 24 as well.

Technical view looks really good as the price spike last week decisively pushed through (1) the 5.85 resistance area (2) the previous 31 Jul 24 unconvincing $6.08 high and (3) the 200 SMA.

• $5.85 looks to be the area for the imminent consolidation
• then the 200 SMA should provide support around ~$5.30
• ~$4.90 is looking to be quite a good floor given that it is also very close to the 38.2% retracement

Discl: Held IRL and in SM

I was thinking the same.

That was almost 15 million excess volume on one day, which given normal liquidity must mean it was a block trade negotiated with an existing large shareholder.

At 5 to 5.5% of SOI, someone (or both buyer and seller) has likely exceeded the 5% threshold to disclose, so we should see a notice (or notices) revealing all in the coming days.

There aren't many shareholders who own 5% (see below).

Given the price kicker, it looks to me more like an insto. wanted in. There's only 5-6 candidates for who wanted out/to reduce, and only AusSuper who might have reduced while still retaining a significant holding. My logic being that if the initiator of the deal was an existing holder wanting out or to reduce, then the price would have been negotiated closer to a recent VWAP or a discount to it.

Interesting.