Oil crashed 7% overnight, analysts are slashing demand forecasts due to global GDP slowdowns (which will affect gas as well as oil). If you think this selling is "desperately trying to keep the price down" you are deluding yourself with confirmation bias.
The only thing traders are desperately trying to do is close out their positions in O&G stocks without losing their shirts. Don't kid yourself that it's some ploy. Market sentiment towards the sector has turned sharply bearish.
Selling desperate, page-3
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Last
5.3¢ |
Change
-0.002(3.64%) |
Mkt cap ! $39.49M | |||
| Open | High | Low | Value | Volume |
| 5.5¢ | 5.5¢ | 5.3¢ | $83.26K | 1.516M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 234750 | 5.3¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 5.5¢ | 340510 | 1 |
View Market Depth
| Last trade - 16.10pm 15/11/2024 (20 minute delay) ? |
| CTP (ASX) Chart |