Lasco Manufacturing’s bottling line. Lasco’s stock had a bid at $2, well ahead of the last price of $1.71.
At the close, Access Financial had little supply with the offer to sell 5,134 shares at $25.50 against a last sale price of $19, while Blue Power has only 2,000 shares on offer at $13.05. Lasco Manufacturing has a bid at $2 to buy 12,147 units, well ahead of the last price of $1.71, but the offer is for only 10,000 units at $2.50.
One technical indicator shows potential resistance around the present level, with 8 junior market stocks having bids above the last traded prices particularly that of Lasco Manufacturing with a large capital base and only 2 with lower offers, the market should clear the resistance level decisively, with the junior market heading to 1,200 points before a major resistance develops again.
In actual trading on Wednesday, only 5 securities changed hands with 2 rising and 1 declining resulting in 172,196 units valued at $540,274.
At the close, the junior market had 5 securities closed with no bids to buy, while 8 had no stocks being offered for sale.
Stocks trading are, Access Financial closed at $19 but with 4,234 units changing hands, the company had previously released results for the six months to June showing a 71 percent gain in the quarter resulting in profit of $112.5 million versus $65.6 million and for the six months $252 million, compared with $145 million previously. Lasco Distributors traded 1,400 shares to close at $1.76, with a loss of 4 cents, Lasco Financial Services traded 121,700 units to close at $2. Lasco Manufacturing with just 10,313 units changing hands, gained 7 cents to close at $1.71, for a new 52 week’s high and Paramount Trading ended with 34,549 shares changing hands with a gain of 25 cents to end at $5.75.
