A lot of the selling started with an Insto dumping on market. Then out come your shorters. Then out come your down rampers. Then it's time for weak holders to exit. Then panic sets it.
Fear driven selling. Then out come your short term traders saying I told you so. Don't forget they were all around down ramping at the 1.30 mark too.
One thing to assess is past revenues.
As you can see FY2015 had a nice jump in revenue when infant formula hit the market. Now look forward at FY2016 and group revenue is expected to increase greater than 100% to an estimated 300 - 315 million with half of group revenue generated by formula sales. The growth is impressive and trending upwards in a market where demand is increasing.
Many shorts will get caught with their pants down.
FA says $1.50 to $1.70, TA Agrees, page-188
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Last
$5.53 |
Change
-0.030(0.54%) |
Mkt cap ! $3.996B | |||
| Open | High | Low | Value | Volume |
| $5.47 | $5.56 | $5.45 | $2.431M | 441.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 30317 | $5.81 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $5.25 | 36726 | 6 |
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| Last trade - 15.59pm 09/09/2024 (20 minute delay) ? |
| A2M (ASX) Chart |