It's actually quite the game of tug-o-war going on between bears and bulls right now.
Been slowly churning through the 12.5c's and then there was just a mad dash down to 12c.
A close below 12c may confirm a dead cat bounce and resume the down trend.
On the flip side, buying could push up through 12.5c's which may confirm upwards leg.
Personally I doubt it will push upwards - there's no real catalyst (announcement etc), markets seems more excited to sell then buy (buyers out numbering sellers), negative sentiment in PRR (due to neg announcements), ASX down on a red day. It seems to be more of a 'Hold on rumor' in the hope that there will be some sort of news tomorrow. No real big buys, low volume, doubt its got much huff-and-puff, but lets wait and see.
dead cat bounce, page-14
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Last
33.5¢ |
Change
-0.010(2.90%) |
Mkt cap ! $497.5M | |||
| Open | High | Low | Value | Volume |
| 34.0¢ | 34.5¢ | 33.5¢ | $105.1K | 308.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 18 | 198412 | 33.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 34.0¢ | 135387 | 27 |
View Market Depth
| Last trade - 13.03pm 01/08/2024 (20 minute delay) ? |
| IMM (ASX) Chart |