A touch of insider dealing , maybe? How come the big selling vol 2 days before the results? In view of the apparently reasonable results, there can only be one conclusion. Someone must have known BSY was going to be marked down....
Good spot Chartman: hadnt noticed the vol spike: it does seem a little conincidental that the highest vol spike since Mar 03 happened two days before the share price nosedived.. someones had their hand in the till?
I must admit to be somewhat baffled by the whole BSY move yesterday: the fundamentals were actually pretty good: but the City got spooked by the additional investment to be made over the next 3 years.
Even so, wiping out 18% of the market val seems a little oversold when balanced against the fact that BSY still has a monopoly position which should be further strengthed when analog is finally switched off in a few years time (and, with the fact that it is a shareholder in the free to air service).
Backing a retracement on the downtrend, Im long in the market @ 500 (target 556).